Investors still bullish on crypto market amid Bitcoin’s volatility
82% of participants in a 2,588-person CoinGecko survey stated they believed the cryptocurrency bull run was still going strong
82% of participants in a 2,588-person CoinGecko survey stated they believed the cryptocurrency bull run was still going strong, and more than 50% claimed it was just getting started. The research study found that different roles within the crypto community have different sentiments.
55.5% of investors believe the bull run is still in its early stages, compared to 28.8% who believe it is halfway through. 84.3% of investors think that the bull market is still strong overall.
Market players are also optimistic about the future of crypto assets, irrespective of their degree of experience. 52.7% of respondents with 0–3 years of experience, 52.2% with 4–7 years of experience, and 51.8% with 8 years or more think the market is just beginning a bull run.
Builders and traders, meanwhile, are more cautious. The survey indicates that 74.9% of builders and 78.6% of traders think the cryptocurrency bull run is ongoing. It should come as no surprise that the most pessimistic market participants were those classified as observers, with only 69% thinking that the bull run could continue.
Furthermore, Kaiko reports that the market depth for meme tokens reached an all-time high of $128 million in early June, indicating a rise in liquidity. Price appreciation and the increase in transaction volumes are the two causes of this growth.
Put differently, participants’ perceptions of the current cycle’s bull run did not appear to be particularly influenced by their years of expertise with cryptocurrencies. Rather, the distribution of both optimistic and pessimistic views was similar, according to CoinGecko.
CoinGecko data also revealed that 21.3% of participants predict a super cycle with continuous increases, while 60.4% of participants believe the market hasn’t peaked and will climb again. This implies that, given the current market cycle, Bitcoin’s March
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