Markets
Cryptocurrency optimism remains strong despite market fluctuations, survey shows
O cryptocurrency market continues to inspire confidence among participants, with a recent survey revealing that a significant majority believe that the current situation bull run is far from over.
According to a CoinGecko report released on July 12, 81.6% of respondents expressed optimism about the future trajectory of the market.
This sentiment prevails despite recent market volatility and regulatory uncertainty. The survey, which gathered responses from 2,558 crypto participants, provides valuable insights into the mindset of investors, traders, and builders in the space.
Notably, more than half of respondents (52.3%) estimated that the current bull run was still in its early stages or just beginning. This outlook suggests a strong belief in the potential for further market growth and price appreciation.
Search results. Source: CoinGecko
Investors lead the bullish charge
Among the different categories of participants, “investors” emerged as the most optimistic group. As reported by CoinGecko, a whopping 84.3% of investors believed that the bull run was not over yet. This number surpasses the overall average and indicates a particularly positive outlook among those with long-term holdings.
Traders and builders, while still optimistic, were a bit more cautious in their assessments. The survey revealed that 78.6% of traders and 74.9% of builders estimated that the bull run had not reached its conclusion.
Interestingly, experience level in the crypto space did not significantly influence participants’ views on the current market cycle. Newcomers and veteran crypto natives shared similar estimates, with around 52% across all experience levels believing the market was in its early stages.
Future market performance expectations
The survey also explored participants’ beliefs about the future direction of the cryptocurrency market. A substantial 60.4% of respondents most closely identified with the statement: “We haven’t reached the peak for this cycle yet, the market will go up again.”
Furthermore, an additional 21.3% of participants aligned with the idea of a “supercycle,” believing that the market would continue to pump. Combined, these numbers indicate that 81.7% of respondents anticipate further bullish movements in the cryptocurrency market.
The “CoinGecko Post-Halving Sentiment Survey” collected responses from June 25 to July 8, 2024. Participants represented a diverse group of crypto enthusiasts, with 69% identifying as investors, 18% as traders, 7% as builders, and 6% as marginalized spectators.
In terms of experience, 46% of respondents were in their first crypto cycle (0-3 years), 41% in their second cycle (4-7 years), and the remainder were veterans with eight or more years of experience. Geographically, 90% of respondents were based in Europe, Asia, North America, and Africa.
While the survey provides valuable insights into market sentiment, it is important to note that these results are indicative and should not be considered financial advice. As always, individuals should conduct their own research and exercise caution when investing in cryptocurrencies.
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