Crypto Enthusiasts Still Believe in Bull Run, Survey Shows

A
recent
survey
conducted
by
CoinGecko
reveals
that
the
majority
of
crypto
participants
maintain
a
positive
outlook
on
the
current
market
cycle.
Despite
recent
market
fluctuations,
81.6%
of
respondents
believe
that
the
crypto
bull
run
is
not
yet
over.

Is
the
Crypto
Bull
Run
Over?

According
to
the
survey,
52.3%
of
participants
estimate
that
the
bull
run
is
still
in
its
early
stages,
while
29.3%
believe
it
is
midway
through.
In
contrast,
only
18.4%
think
the
bull
market
is
in
its
late
stage
or
has
already
ended.

Investors
are
particularly
optimistic,
with
55.5%
estimating
that
the
bull
run
is
just
beginning
or
in
its
early
stage,
and
28.8%
thinking
it
is
in
the
middle.
This
adds
up
to
84.3%
of
investors
who
believe
the
bull
run
is
ongoing.
Traders
and
builders
are
slightly
more
cautious,
with
78.6%
of
traders
and
74.9%
of
builders
sharing
this
sentiment.

The
detailed
breakdown
of
opinions
among
investors,
traders,
builders,
and
spectators
is
as
follows:

Experience
and
Market
Sentiment

Newcomers
and
veteran
crypto
participants
share
similar
views
on
the
market’s
current
state.
Estimates
for
the
starting
or
early
stages
of
the
bull
run
were
made
by
52.7%
of
participants
in
their
first
cycle
(0
to
3
years
of
crypto
experience),
52.2%
of
those
in
their
second
cycle
(4
to
7
years),
and
51.8%
of
those
in
their
third
cycle
or
beyond
(8
or
more
years).

However,
a
higher
percentage
of
veterans
(23.4%)
believe
the
market
is
in
its
late
or
ending
stages,
compared
to
17.6%
for
both
first
and
second
cyclers.

Future
Market
Expectations

In
a
separate
question
on
market
beliefs,
60.4%
of
participants
agreed
with
the
statement,
“We
have
not
yet
peaked
for
this
cycle;
the
market
will
go
up
again.”
This
is
nearly
three
times
more
than
the
21.3%
who
believe,
“We
are
in
a
supercycle,
so
the
market
will
continue
pumping.”

A
combined
81.7%
of
participants
believe
the
market
will
see
a
bullish
continuation,
either
because
crypto
has
yet
to
peak
or
has
entered
a
supercycle.
This
further
reinforces
the
consensus
that
the
current
crypto
bull
run
is
not
over
and
still
has
potential
for
growth.

The
remaining
responses
include
8.1%
who
think,
“We
have
already
peaked
for
this
cycle;
the
market
will
only
go
down
from
here,”
6.1%
who
believe,
“We
are
near
the
peak
now;
it’s
time
to
take
profits
and
exit
the
market,”
and
4.1%
who
stated,
“I’ve
been
sidelined,
so
I
don’t
care.”

Interestingly,
66.7%
of
second
cyclers
believe
the
current
cycle
has
yet
to
peak,
compared
to
55.2%
of
first
cyclers
and
58.9%
of
third
cyclers
or
beyond.
However,
second
cyclers
are
more
skeptical
about
the
supercycle
theory,
with
only
18.3%
endorsing
it.

Survey
Methodology

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

Among
the
participants,
69%
identified
as
crypto
investors
with
long-term
holdings,
18%
as
traders
with
shorter-term
holdings,
7%
as
builders,
and
6%
as
sidelined
spectators.
In
terms
of
experience,
46%
were
in
their
first
cycle,
41%
in
their
second
cycle,
and
the
remaining
were
veterans
with
over
eight
years
in
the
crypto
space.
Geographically,
90%
of
participants
were
based
in
Europe,
Asia,
North
America,
and
Africa,
with
the
rest
in
Oceania
or
South
America.

For
more
information,
visit
the
original

CoinGecko
article.

Image
source:
Shutterstock