According to a recent survey by CoinGecko, many crypto investors are feeling pessimistic about the recent price performance of the crypto market. The performance of Bitcoin and other cryptocurrencies has undoubtedly disappointed many investors in June and the first week of July.
This disappointing performance is far from many people’s expectations, especially considering that Bitcoin recently lost half its value. CoinGecko’s report, which involved 2,558 people, shows that 49.3% of respondents still feel optimistic about the market.
CoinGecko report reveals a drop in bullish sentiment
The recent market situation has been going through a tough timeIt is no wonder that investor confidence has declined. A new survey According to CoinGecko, less than half of crypto holders are still optimistic about their investments.
The survey, which ran from June 25 to July 8, 2024, examined the various sentiments of 2,558 crypto participants and concluded that there was no clear consensus. However, the survey was able to conclude a drop in bullish sentiment that persisted for most of the first half of the year.
Only 45% of the crypto investors surveyed are still waving the crypto flag with enthusiasm. This means that most investors are either still unsure about investing or have given up on investing altogether. Notably, only 23.2% of respondents were completely optimistic, while 26.1% were somewhat optimistic.
Furthermore, 25.5% of traders were neutral and leaned neither bullish nor bearish. On the other hand, 25.2% of the respondents had a bearish outlook. This group was also divided into two groups: 11.8% of them were completely bearish, while 13.4% felt somewhat bearish.
Despite the decrease in bullish sentiment, it is important to note that these figures take into account all types of market participants, including spectators and short-term traders. These two groups of traders are not exactly known for their long-term bullish sentiment.
Dividing the sentiments according to the type of participants, investors still maintain a bullish outlook, as 54.1% of crypto investors felt bullish, and only 20.7% expressed bearish sentiments. Investors are those who are more likely to hold their assets on a long-term basis. Builders were the second most optimistic, with 47.6% of them expressing bullish sentiments and 31.6% expressing bearish sentiments.
As expected, short-term traders and spectators were the least optimistic. Only 39.0% of short-term traders expressed bullishness and 33.5% were bearish. At the same time, only 28.5% of spectators were bullish, while 42.4% expressed bearish sentiment. Spectators are respondents who had no direct involvement in the crypto market at the time of the survey.
At the time of writing, crypto The market is starting to recover and has gained 2.98% in a 24-hour time frame. Investors are getting ready for what might happen Bullish week for bitcoin And other cryptocurrencies.
Featured image via IndyStar, chart via TradingView
