Markets
82% of investors believe the cryptocurrency bull market is not over
Bitcoin’s recent price struggles have not dampened market sentiment, with more than half of cryptocurrency investors still bullish.
According to a CoinGecko survey of 2,588 respondents, 82% believe the cryptocurrency bull run is not over, with over 50% suggesting it is still in its early stages.
The cryptocurrency bull run is not over yet
The survey revealed distinct sentiments across different roles in the crypto community. Around 55.5% of investors see the bull run in its early stages, while 28.8% believe it is in the middle. Overall, 84.3% of investors think the market’s green run is underway.
However, traders and builders are more cautious. According to the survey, 78.6% of traders and 74.9% of builders believe that the crypto bull run is not over. Unsurprisingly, market participants marked as spectators were more pessimistic, with only 69% believing that the bull run could continue.
Read more: Bitcoin Price Prediction 2024/2025/2030
Meanwhile, bullish optimism appears to be evenly distributed among market participants, regardless of their crypto experience levels. According to the survey, around 52.7% of those with 0-3 years of experience, 52.2% with 4-7 years, and 51.8% with 8 or more years believe the market is in the early stages of a bull run.
“In other words, having different years of experience with crypto did not appear to significantly influence how participants viewed the current cycle’s bull run. Instead, there was a similar distribution of bullish and bearish views,” CoinGecko said.
Bullish Market Sentiment of Cryptocurrency Investors. Source: CoinGecko
CoinGecko highlighted that 60.4% of participants believe that the market has not peaked and will rise againwhile 21.3% anticipate a supercycle with continuous gains. This suggests that Bitcoin Surpasses $73,000 at All-Time High in March could easily be surpassed in the current market cycle.
“In other words, a total of 81.7% of participants believed that the market would see a bullish continuation, either because crypto had not yet peaked or had entered a supercycle state. This further reinforces the consensus view above that the current crypto bull run is not over yet and still has upside potential,” CoinGecko added.
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The survey results are in line with those of market experts, who believe that the cryptocurrency market is in the midst of a bull run. Matt Hougan, the chief investment officer at asset management firm Bitwise, explained that major tailwinds could boost Bitcoin will reach $100,000 by the end of the year.
“The cryptocurrency market is facing a strange dynamic right now: all short-term news is bad, and all long-term news is good. The dichotomy is creating an incredible potential opportunity for long-term investors,” he said. commented.
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