Markets
Investors still bullish on cryptocurrency market amid Bitcoin volatility
82% of respondents to a CoinGecko survey of 2,588 people stated that they believed the cryptocurrency bull run was still going strong, with over 50% saying it was just beginning. The research study found that different roles within the crypto community have different sentiments.
55.5% of investors believe the bull market is still in its early stages, compared to 28.8% who believe it is halfway through. 84.3% of investors think the bull market is still strong overall.
Market participants are also optimistic about the future of crypto assets, regardless of their experience level. 52.7% of respondents with 0–3 years of experience, 52.2% with 4–7 years of experience, and 51.8% with 8 or more years of experience believe the market is just beginning a bull run.
Builders and traders, meanwhile, are more cautious. The survey indicates that 74.9% of builders and 78.6% of traders think the crypto bull run is underway. It should come as no surprise that the most bearish market participants were those classified as observers, with only 69% thinking the bull run could continue.
Furthermore, Kaiko reports that the market depth for meme tokens reached an all-time high of $128 million in early June, indicating an increase in liquidity. Price appreciation and increased trading volumes are the two drivers of this growth.
In other words, participants’ perceptions of the current cycle’s bull run did not appear to be particularly influenced by their years of experience with cryptocurrencies. Instead, the distribution of bullish and bearish views was similar, according to CoinGecko.
CoinGecko data also revealed that 21.3% of participants predict a super cycle with continued increases, while 60.4% of participants believe that the market has not peaked and will rise again. This implies that given the current market cycle, BitcoinMarch of