The Investor and Financial Education Council (IFEC) of Hong Kong has reported a decline in herd mentality among the region's virtual asset investors. According to a follow-up study by the IFEC, investors are now less likely to mimic the general public in purchasing specific virtual assets and are showing reduced tendencies to take on higher risks after realizing gains. The study, titled "Heuristics in Investment Decision-Making," highlights a shift in investor behavior, with a notable decrease in reliance on past personal experiences. Despite this shift, the study also notes an increasing reliance on financial influencers among Hong Kong's virtual asset investors. This trend suggests that while traditional herd behaviors are waning, investors are turning to influencers for guidance in their investment decisions.