Survey Finds Over 80% of Crypto Investors Bullish, Believing Bull Run Continues

4 months ago 1

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Bitcoin’s recent price struggles have not dampened market sentiment, with over half of crypto investors still bullish.

According to a CoinGecko survey of 2,588 respondents, 82% believe the crypto bull run isn’t over, with more than 50% suggesting it’s still in its early stages.

Crypto Bull Run is Not Yet Over

The survey revealed distinct sentiments across different roles in the crypto community. About 55.5% of investors see the bull run in its early stages, while 28.8% believe it’s in the middle. Overall, 84.3% of investors think the market green run is ongoing.

However, traders and builders are more cautious. According to the survey, 78.6% of traders and 74.9% of builders believe that the crypto bull run was not over. Unsurprisingly, market participants tagged as spectators showed the most pessimism, with only 69% believing that the bull run could continue.

Meanwhile, the bullish optimism appears evenly distributed among market participants regardless of their experience levels in crypto. Per the survey, around 52.7% of those with 0-3 years of experience, 52.2% with 4-7 years, and 51.8% with 8 or more years believe the market is in the early stages of a bull run.

“In other words, having different years of crypto experience did not seem to significantly influence how participants viewed the current cycle’s bull run. Instead, there was a similar distribution of optimistic and pessimistic opinions,” CoinGecko stated.

Crypto Investors' Bull Market Sentiment.

CoinGecko pointed out that 60.4% of participants think the market hasn’t peaked and will rise again, while 21.3% anticipate a supercycle with continued gains. This suggests that Bitcoin’s over $73,000 all-time high in March could be easily surpassed in the current market cycle.

“In other words, a combined 81.7% of participants believed that the market would see a bullish continuation, either because crypto had yet to peak or had entered a supercycle state. This further reinforces the above consensus view that the current crypto bull run is not over yet and still has upside potential,” CoinGecko added.

The survey results align with those of market experts, who believe the crypto market is in the midst of a bull run. Matt Hougan, the Chief Investment Officer for asset management firm Bitwise, explained that key tailwinds could drive Bitcoin to $100,000 by year-end.

“The crypto market is facing a weird dynamic right now: All the short-term news is bad, and all the long-term news is good. The dichotomy is creating an incredible potential opportunity for long-term investors,” he commented.

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