The cryptocurrency market continues to inspire confidence among participants, with a recent survey revealing that a significant majority believe the current bull run is far from over.
According to a CoinGecko report released on July 12, 81.6% of respondents expressed optimism about the market’s future trajectory.
This sentiment prevails despite recent market volatility and regulatory uncertainties. The survey, which gathered responses from 2,558 crypto participants, provides valuable insights into the mindset of investors, traders, and builders in the space.
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Notably, more than half of the respondents (52.3%) estimated that the current bull run was still in its early stages or just beginning. This perspective suggests a strong belief in the potential for further market growth and price appreciation.
Investors lead the optimistic charge
Among the different categories of participants, “investors” emerged as the most bullish group. As reported by CoinGecko, a striking 84.3% of investors believed that the bull run was not yet over. This figure surpasses the overall average and indicates a particularly positive outlook among those with long-term holdings.
Traders and builders, while still optimistic, showed slightly more caution 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, the level of experience 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.
Expectations of future market performance
The survey also explored participants’ beliefs about the future direction of the crypto market. A substantial 60.4% of respondents identified most closely with the statement, “We have not yet peaked for this cycle, 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 figures indicate that 81.7% of respondents anticipate further bullish movement in the crypto market.
The “CoinGecko Post-Halving Sentiment Survey” collected responses from June 25 to July 8, 2024. The participants represented a diverse group of crypto enthusiasts, with 69% identifying as investors, 18% as traders, 7% as builders, and 6% as sidelined 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 participants were based in Europe, Asia, North America, and Africa.
While the survey provides valuable insights into market sentiment, it’s 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.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
