Despite the gloom of the ongoing cryptocurrency winter, coupled with the failures of crypto giants like FTX, the community appears to remain bullish on crypto, according to a new survey.

Crypto markets saw a massive sell-off in 2022, with the total market capitalization plummeting nearly 70% since Bitcoin (BTC) reached its all-time high at $69,000 in November 2021.

But this didn’t prevent investors from buying more cryptocurrency, with 41% of respondents telling in an online survey that they purchased crypto in 2022.

The study, titled “Crypto Confidence: A Survey on Investor Sentiment,” was conducted between Nov. 28 and Dec. 9 and released on Dec. 22. The firm polled more than 40,000 people globally who visited the Explorer website, which is one of the world’s largest crypto websites in terms of traffic.

According to the survey results, a significant number of people are also willing to continue to buy cryptocurrency next year. Despite a challenging year for the crypto industry, nearly 40% of respondents indicated a plan to purchase cryptocurrencies such as Bitcoin in 2023.

Additionally, about 40% of respondents said they will talk about crypto around the holiday table this season, which is considered to be a sign of growing awareness.


Apart from general investor sentiment, the survey also provides some geographic insights, noting that  Brazil, Nigeria and Ghana are becoming the most bullish countries.

Related: Turkey has an obsession with crypto, specifically Dogecoin: Study

Fifty percent of respondents from Brazil said they bought crypto in 2022, with 50% also planning to buy digital coins next year. Fifty percent of Nigerians said they purchased crypto this year, while as many as 60% of Ghanaian respondents said they expect to buy crypto in 2023.

In contrast, Germany and Italy emerged as some of the most skeptical countries in terms of investor sentiment toward crypto. Only 31% of Italian respondents said they purchased crypto this year, with 29% planning to purchase it next year. Just 34% of respondents from Germany bought cryptocurrency in 2022 and 30% plan to do so in 2023.