Only Half of Crypto Investors Remain Bullish: CoinGecko Survey

According to a recent survey by CoinGecko, only about half of investors are actually optimistic about the current cryptocurrency market.

The study, which included 2,558 people, was conducted over the past two weeks, from June 25 to July 8.

Cryptocurrency Investors Lead Bullish Outlook

quinjico a report The report highlights that 49.3% of cryptocurrency market participants remain optimistic about the future of the market. This is despite the downward trend of the cryptocurrency market after the post-reduction rally.

Of these participants, 26.1% felt somewhat optimistic, and 23.2% were completely optimistic. Interestingly, 25% of participants maintained a neutral stance. On the other hand, 25.2% of participants expressed pessimistic feelings. This pessimistic group was almost evenly split, with 13.4% being somewhat pessimistic and 11.8% being completely pessimistic.

Analyzing sentiment by type of participant, investors emerged as the most optimistic, with 54.1% feeling optimistic and only 20.7% pessimistic. They were closely followed by builders, with 47.6% feeling optimistic and 31.6% pessimistic. Traders showed mixed sentiment, with 39.0% feeling optimistic and 33.5% pessimistic, perhaps due to their focus on the short-term market.

Bystanders, who have no direct involvement in cryptocurrencies, were the most pessimistic, with only 28.5% of responses being bullish compared to 42.4% being bearish.

Bitcoin continues to decline

The latest survey results show that Bitcoin has fallen by about 9.5% since its halving on April 20. Historically, Bitcoin halving events, which occur roughly every four years, have been followed by price spikes in the months that follow.

But this time, Bitcoin has been on a downward trajectory since peaking at an all-time high in March. Over the past month, its price action has been marked by a series of higher highs and lower lows, with the cryptocurrency hitting a two-month low of $53,500 on July 5.

Despite attempts to regain bullish momentum, market confidence has recently been shaken by potential selling pressure from $7.6 billion worth of Bitcoin. Notably, the money is due to be repaid soon to creditors of the collapsed cryptocurrency exchange Mt. Gox. Additionally, the recent Bitcoin sales by the German government have also dampened investor sentiment.