Survey Reveals 75% of Hong Kong’s Virtual Asset Investors Chase Short-Term Returns
The majority of Hong Kong’s virtual asset investors chase short-term returns, embrace crypto as an investment trend, and fear missing opportunities.
One of the key findings of the “Retail Investor Research 2023” report was that 75% of the surveyed virtual asset investors in the city-state invest in virtual assets with the intention of pursuing short-term returns.
Additionally, 74% of respondents believed that virtual assets are an investment trend, indicating a widespread perception of their potential for growth and profitability.
Another 73% expressed concerns about missing out on investment opportunities, showcasing the fear of being left behind in this rapidly evolving market.
The report, conducted by the Department of Applied Social Sciences at the Hong Kong Polytechnic University, examined the behavior of virtual asset investors in Hong Kong.
The study identified several common thinking patterns among virtual asset investors, characterized by shortcuts and biases.
These patterns included the tendency to rely on readily available information, known as availability, and the excessive emphasis placed on past information, known as anchoring.
Another prevalent pattern was overconfidence, where investors overestimated their abilities and believed they could outperform the market.
These patterns, along with others, were categorized into five types, including “Following the Trend Type,” “Snake Bite Obedient Type,” “Own Experience Type,” “Intuition Expansion Type,” and “Wishful Thinking Type.”
Despite the respondents’ demonstrated knowledge of financial management, the study also revealed the need for improvement in their financial management behaviors and attitudes.
The Investment Committee emphasized the
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