Markets
82% of Investors Believe Crypto 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, and over 50% suggest it is just beginning.
The Cryptocurrency Bull Run Is Not Over Yet
The survey revealed different sentiments across roles within the crypto community. About 55.5% of investors see the bull run in its early stages, while 28.8% believe it is halfway through. Overall, 84.3% of investors believe 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 rise of cryptocurrencies is not over. Unsurprisingly, market participants classified as spectators showed the most pessimism, with only 69% of them believing that the rise could continue.
Learn more: Bitcoin Price Prediction 2024/2025/2030
At the same time, bullish optimism seems to be evenly distributed among market participants, regardless of their levels of cryptocurrency experience. According to the survey, about 52.7% of those with 0-3 years of experience, 52.2% with 4-7 years, and 51.8% with 8 years or more believe that the market is booming. the first stages of a bullfight.
“In other words, having different years of experience in cryptocurrencies does not appear to have significantly influenced how participants perceive the current bull cycle. Instead, there was a similar distribution of optimistic and pessimistic opinions,” CoinGecko said.
Bullish market sentiment among cryptocurrency investors. Source: CoinGecko
CoinGecko highlighted that 60.4% of participants believe that the market has not reached its peak and will increase againwhile 21.3% anticipate a supercycle with continued gains. This suggests that Bitcoin hit an all-time high of over $73,000 in March could easily be exceeded in the current market cycle.
“In other words, 81.7% of participants believed that the market was going to see a bullish continuation, either because the crypto had not yet reached its peak or because it had entered a supercycle state. This further reinforces the consensus view above that the current crypto bull run is not over yet and that it still has upside potential,” CoinGecko added.
Learn more: 11 Cryptos to Add to Your Portfolio Before Altcoin Season
The survey results align with market experts who believe the cryptocurrency market is in the midst of a bull run. Matt Hougan, chief investment officer at asset management firm Bitwise, explained that key tailwinds could boost Bitcoin to $100,000 by year-end.
“The cryptocurrency market is currently facing a strange dynamic: all short-term news is bad and all long-term news is good. This dichotomy creates an incredible potential opportunity for long-term investors,” he said. commented.
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