Hong Kong Virtual Asset Investors Show Lower Herd Mentality, Rising Reliance on Fintech Influencers: SFC Study

According to a follow-up behavioral study by the Hong Kong Securities and Futures Commission's Investor and Financial Education Council, virtual asset investors in Hong Kong show significantly declining herd mentality and reduced reliance on past trading experience.

However, the study found investors increasingly exhibit fear of missing out (FOMO) and overconfidence bias. Their dependence on personal intuition and authority figures, including fintech influencers, has risen compared to previous findings.