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

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

But this did not stop investors from buying more crypto, as 41% of respondents told in an online survey that they bought crypto in 2022.

The study, titled “Crypto Confidence: A Survey on Investor Sentiment,” was conducted between November 28 and December 9 and published on December 22. The company surveyed more than 40,000 people around the world who visited the Explorer website, which is one of the largest crypto websites in the world in terms of traffic.

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

Additionally, around 40% of those surveyed said they will be discussing cryptocurrency at the holiday table this season, which is seen as a sign of increased awareness.


In addition to general investor sentiment, the survey also provides some geographical insights, noting that Brazil, Nigeria and Ghana are becoming the most bullish countries.

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

Fifty percent of respondents from Brazil said they bought crypto in 2022, and 50% also plan to buy digital currencies in the next year. Fifty percent of Nigerians said they bought crypto this year, while up to 60% of Ghanaian respondents said they expect to buy crypto in 2023.

By contrast, Germany and Italy emerged as some of the most skeptical countries in terms of investor sentiment towards cryptocurrencies. Only 31% of Italian respondents said they bought crypto this year, and 29% plan to buy it next year. Only 34% of respondents from Germany bought cryptocurrencies in 2022 and 30% plan to do so in 2023.