Woofun AI reports that the Investor and Financial Education Committee under the Hong Kong Securities and Futures Commission has disclosed findings from a scientific study on virtual asset investor behavior. The research indicates a significant decline in herd mentality among Hong Kong’s virtual asset investors, alongside reduced tendencies to increase risk exposure after realizing profits and decreased reliance on past experiences.

Concurrently, the phenomenon of following the crowd to purchase specific virtual assets has diminished.

Despite these shifts toward more independent behavior, investors continue to exhibit notable behavioral biases. Fear of missing out (FOMO) and overconfidence remain prevalent factors in decision-making processes.

Furthermore, the study highlights an increased reliance on personal intuition and authoritative figures, particularly financial influencers, suggesting that while collective herding is waning, external influence channels are becoming more pronounced.