Bear or Bull: 49% Show Optimism Towards Crypto

A recent survey by CoinGecko, conducted over the last two weeks with over 2,500 respondents, has found that roughly half of the crypto community remains optimistic about the market’s future.

The survey, released on July 10 and conducted from June 25 to July 8, included 2,558 participants, 94% of whom are either crypto holders or work within the industry.

Results showed that 49.3% of those surveyed felt “bullish” or “somewhat bullish” about the current state of the cryptocurrency market.

Approximately a quarter of respondents were split between “bearish” and “somewhat bearish,” while another quarter described their outlook as “neutral,” indicating no strong expectations for market movement either way.

The significant neutral sentiment could suggest participants’ uncertainty about market conditions or a wait-and-see approach, according to CoinGecko research analyst Lim Yu Qian.

Among the four groups surveyed — investors, traders, builders, and spectators — spectators were the most pessimistic, with two out of five expressing bearish sentiments.

Spectators, identified as having “no direct crypto involvement,” also had the highest proportion of neutral respondents at nearly 30%.

“Spectator respondents might reflect the views of those who have cashed out and are currently out of the market,” Lim added.

In contrast, long-term crypto investors were the most bullish, followed closely by industry professionals.

This survey coincides with Bitcoin’s price dropping around 9.5% since its April 20 halving, which saw mining rewards reduced by half.

As of July 11, Bitcoin is trading at $57,585, slightly recovering from last week’s dip below $54,000, its lowest in four months.

Historically, Bitcoin’s price tends to rise in the months following its halving events, which occur approximately every four years.

However, current market concerns include potential sell pressure from $7.6 billion worth of Bitcoin repayments to Mt. Gox creditors and a recent sell-off by the German government.

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