A recent CoinGecko survey reveals that 81.6% of crypto participants believe the current bull run is far from over, with more than half suggesting it’s still in its early stages.
The survey, conducted from June 25 to July 8, 2024, gathered responses from 2,558 crypto enthusiasts. It found that 52.3% of respondents think the bull market is just getting started, while 29.3% believe it’s midway through.
Investor optimism led the way, as 84.3% showed confidence in the current bull market. Traders and builders showed slightly more cautious views, with 78.6% and 74.9%, respectively, sharing this positive sentiment.
Interestingly, the crypto experience didn’t significantly sway opinions. Newcomers and veterans alike shared similar views on the market’s current position. However, a higher percentage of seasoned participants (23.4%) believed the market was in its late or ending stages compared to first and second-cycle enthusiasts (17.6% each).
Views on crypto market cycle and supercycle
The survey also explored broader market beliefs. A whopping 60.4% of participants agreed that “We have not yet peaked for this cycle; the market will go up again.” Another 21.3% believed in a “supercycle” where the market would continue to pump.
Only a small fraction expressed bearish sentiments. Just 8.1% thought the market had already peaked, while 6.1% believed it was time to take profits and exit.
Geographically speaking, the majority of participants in the survey came from Europe, Asia, North America, and Africa, totaling 90%. The rest of the respondents were distributed between Oceania and South America.
Currently, there is an overall positive outlook even amidst the considerable volatility in the crypto market. While price fluctuations have been notable, the survey indicates that a majority of individuals maintain a positive long-term outlook on the future potential of cryptocurrencies.
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