A recent CoinGecko survey involving over 2,500 participants reveals that only half of the crypto investors are optimistic about the market. Conducted between June 25 and July 8, with results published on July 10, the survey drew responses from 2,558 individuals, 94% of whom are engaged in crypto either as holders or workers.
What Do Investors Think?
The survey results indicate that 49.3% of respondents feel either bullish or somewhat bullish about the crypto market. Meanwhile, around 25% were evenly split between bearish and somewhat bearish sentiments, with the remaining quarter adopting a neutral stance, suggesting no significant market movement in either direction.
Lim Yu Qian, a research analyst at CoinGecko, interprets the high level of neutral sentiment as a sign of uncertainty among participants regarding the current crypto market conditions or a wait-and-see approach for future developments.
Which Group is Most Pessimistic?
Among the various types of survey participants, including investors, traders, developers, and spectators, it was found that spectators held the most bearish views on the crypto market. Roughly 40% of spectators expressed pessimism, and about 30% were neutral, showing no direct involvement in crypto.
Key Takeaways
– Long-term crypto asset holders are the most bullish.
– Bitcoin‘s mining rewards halving event led to a 9.5% drop in its market cap.
– Bitcoin trading near $57,585, recovering from a recent low.
– Potential market impact from Mt. Gox Bitcoin repayments and German government Bitcoin release.
Despite historical trends of post-halving price increases in Bitcoin, the market faces upcoming pressures, particularly from the potential release of $7.6 billion worth of Bitcoin by the defunct crypto exchange Mt. Gox and recent actions by the German government.