The Influence of Herding Behavior and Overconfidence Bias on Investment Decisions of Millennial Generation Cryptocurrency Investors in Malang City

Abstract

This exploration aims to dissect the influence of herding behavior and overconfidence-bias on investment decisions by millennial generation Cryptocurrency investors in Malang City. This type of research is explanatory research with a quantitative approach. This research aims to test and explain the influence of the direct relationship between the variables herding behavior and overconfidence-bias on investment decisions by cryptocurrency investors through hypothesis testing. This research has a sample size of 99 Millennial Generation Cryptocurrency investors in Malang City which was obtained through distributing a Google Form questionnaire using a purposive sampling technique. This research uses the F-test with the SPSS 23 application. The results of this research show that the herding behavior variable has a significant effect on investment decisions. However, this is different, the overconfidence_bias variable does not have a significant effect on investment decisions by millennial generation Cryptocurrency investors in the city of Malang.