Vietnam’s cryptocurrency market is experiencing dynamic shifts in demographics, investor beliefs, and investment preferences, as revealed by a recent study conducted by Kyros Ventures.
The study offers an in-depth overview of the market, explaining how different age groups perceive cryptocurrencies and make investment decisions.
Among Vietnamese cryptocurrency enthusiasts, individuals aged 25 to 34 stand out as the most prevalent users.
The prevalence of this age group signifies their enduring interest and active involvement in the crypto market.
Contrasting the data with the previous year, the percentage of participants aged 18 to 24 has decreased from 38% in 2022 to 26% in 2023, indicating a change in preferences among younger individuals.
Experienced and newbie investors
The research emphasizes the notable experience demonstrated by Vietnamese investors, as more than 90% have reported engagement in the crypto market for over a year.
This result reflects how the market is maturing and the growing number of seasoned investors who contribute to its development
Conversely, in 2023, only 6.5% of respondents identified themselves as newcomers to the crypto market. This is lower than the 11% figure in 2022, suggesting a more cautious approach to entering the market.
The year 2021 still has the highest number of newcomers into the Vietnamese crypto space at 42.1%, while 2020 had 36.1%.
What investors think about Bitcoin
In addition to the indices from the research, the sentiment of Vietnamese crypto investors on the price of Bitcoin by the end of the year was examined.
Approximately 20% of investors hold the belief that BTC will fall below $20,000 by the end of 2023.
“Nearly 70% of respondents said that the crypto winter would last less than a year or had already ended.”
On how investors make decisions, Kyros says that Vietnamese investors prefer self-study as the most important decision-making process, followed by community groups.
The others are information from the media and crypto news, with a special focus on the official websites of crypto projects.
Furthermore, three-fourths of survey respondents indicate that they are influenced by recommendations or referrals when making investment decisions.
This highlights the importance of community and carefulness before investing funds in any project.