CoinGecko Survey Reveals Crypto Investors’ Pessimistic Outlook
Many crypto investors are feeling pessimistic about the recent performance of the crypto market. Bitcoin and other cryptocurrencies have disappointed in June and the beginning of July, leaving investors dissatisfied despite the recent halving. CoinGecko’s report, which surveyed 2,558 individuals, indicates that nearly half of respondents still harbor bullish sentiments towards the market.
Crypto Market Sentiment Takes a Hit
Recent market volatility has led to a decline in investor confidence, with less than half of crypto holders expressing bullish sentiments about their investments. CoinGecko’s survey, conducted between June 25 and July 8, 2024, highlighted the fluctuating sentiments of 2,558 crypto participants, showing a significant drop in bullish attitudes throughout the year.
Only 45% of surveyed crypto investors are currently optimistic about the market, signaling a lack of confidence among the majority. Specifically, 23.2% of respondents are fully bullish, while 26.1% exhibit a somewhat bullish outlook. On the other hand:
- 25.5% of traders remain neutral
- 25.2% have a bearish perspective
The bearish cohort is further divided into two groups:
- 11.8% are completely bearish
- 13.4% feel slightly bearish
Segmenting Sentiments by Participant Type
When categorizing sentiments based on participant type, investors remain the most bullish, with 54.1% expressing optimism and only 20.7% leaning towards bearishness. Investors, who typically hold assets for the long term, exhibit the highest level of bullish sentiment among all categories. Builders, the second most optimistic group, have a breakdown of 47.6% bullish and 31.6% bearish sentiments.
Conversely, short-term traders and spectators are the least optimistic categories:
- Only 39.0% of short-term traders are bullish
- 33.5% exhibit bearish sentiments
- 28.5% of spectators are bullish
- 42.4% have a bearish outlook
Short-term traders and spectators, who have minimal involvement in the market, display lower levels of positivity compared to investors and builders.
Potential Recovery in the Market
Currently, the crypto market is showing signs of recovery, with a 2.98% increase over a 24-hour period. Investors are anticipating a potentially bullish week for Bitcoin and other cryptocurrencies after recent fluctuations.
Hot Take: Will Crypto Sentiments Improve?
As the crypto market embarks on a potential recovery phase, the sentiment among investors continues to be varied. With the recent increase in prices, there is optimism for a bullish trend in the coming days. However, the overall sentiment remains cautious, reflecting the uncertainty prevalent in the crypto space.
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