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Home»ADOPTION NEWS»Crypto Enthusiasts Still Believe in Bull Run, Survey Finds
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Crypto Enthusiasts Still Believe in Bull Run, Survey Finds

By Crypto FlexsJuly 14, 20244 Mins Read
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Crypto Enthusiasts Still Believe in Bull Run, Survey Finds
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Felix Pinkston
July 14, 2024 03:01

According to a CoinGecko survey, most cryptocurrency participants believe the bull market is not over, with significant optimism spreading among investors.





According to a recent survey conducted by CoinGecko, most cryptocurrency participants maintain a positive outlook on the current market cycle. Despite recent market volatility, 81.6% of respondents believe that the cryptocurrency bull market is not over yet.

Is the Cryptocurrency Surge Over?

According to the survey, 52.3% of the participants estimate that the bull market is still in its early stages, while 29.3% believe it is in its middle stages. On the other hand, only 18.4% believe that the bull market is in its late stages or has already ended.

Investors are particularly optimistic, with 55.5% believing that the bull market has just begun or is in its early stages, and 28.8% believing that it is in its intermediate stages. This means that 84.3% of investors believe that the bull market will continue. Traders and builders are slightly more cautious, with 78.6% of traders and 74.9% of builders sharing this sentiment.

Here is a detailed analysis of what investors, traders, builders and spectators think:

ParticipationBull market startschildhoodmiddleLater stagesEnd of bull market
investor25.1%30.4%28.8%9.6%6.1%
Merchants25.1%20.5%33.0%10.8%10.6%
Builder27.3%19.3%28.3%17.1%8.0%
The audience24.2%20.0%24.8%13.3%17.6%

Experience and market sentiment

New and veteran crypto participants share similar views on the current state of the market. 52.7% of participants in the first cycle (0-3 years of crypto experience), 52.2% in the second cycle (4-7 years), and 51.8% in the third cycle and above (8+ years) gave their estimates for the beginning or early stages of a bull market.

However, veteran investors (23.4%) are more likely to believe that the market is in the late or late stages, compared to just 17.6% of first- and second-tier investors.

experienceBull market startschildhoodmiddleLater stagesEnd of bull market
1st cycle27.5%25.2%29.7%10.4%7.3%
2nd cycle23.0%29.2%30.2%10.9%6.7%
3rd cycle and thereafter24.3%27.5%24.9%10.4%13.0%

Future market expectations

In a separate question about market beliefs, 60.4% of participants agreed with the statement, “We haven’t reached the peak of this cycle yet. The market will go up again.” This was almost three times more than the 21.3% who believed, “We’re in a supercycle, so the market will continue to go up.”

81.7% of participants believe that the market will continue to be bullish as cryptocurrencies have not yet reached their peak or entered a super cycle. This further strengthens the consensus that the current crypto bull market is not over and that there is still room for growth.

The remaining responses included 8.1% who thought, “This cycle has already peaked. The market will only go down from here,” 6.1% who believed, “We are close to the peak now. It is time to take profits and get out of the market,” and 4.1% who said, “I don’t care because I got pushed out.”

Interestingly, 66.7% of second-cycle cyclists believe that the current cycle has not yet peaked, compared to 55.2% of first-cycle cyclists and 58.9% of third-cycle cyclists and above. However, second-cycle cyclists are more skeptical of the supercycle theory, with only 18.3% supporting it.

Research methodology

This study analyzed responses from 2,558 cryptocurrency participants who took part in the anonymous CoinGecko Post-Halving Sentiment Survey conducted from June 25 to July 8, 2024. This survey should be considered indicative rather than definitive.

Of the participants, 69% were identified as long-term crypto investors, 18% as short-term traders, 7% as builders, and 6% as sideline spectators. In terms of experience, 46% were in their first cycle, 41% were in their second cycle, and the rest were veterans with over 8 years of experience in the crypto space. Geographically, 90% of the participants were located in Europe, Asia, North America, and Africa, with the remainder residing in Oceania or South America.

For more information, see the original CoinGecko article.

Image source: Shutterstock


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