Is the Bitcoin (BTC) Bull Market Over? Insights from Small Investors
The decline in Bitcoin (BTC) and altcoins that began in June has carried over into the first week of July, causing concern among investors and leading to speculation that the bull market has come to an end. To gain a better understanding of investors’ sentiments, Coingecko recently conducted a survey.
The results of the survey revealed that a majority of cryptocurrency investors, 81.6%, believe that the crypto bull run is not yet over. Out of the respondents, 52.3% predicted that the current bull run is still in its early stages, while 29.3% believed that the market is currently in the middle of a bull run. In contrast, only 18.4% of participants thought that the current crypto bull market is in its final stages or has already ended.
Similar predictions were made by both newcomers and experienced investors regarding the stage of the current cycle. For investors with 0-3 years of crypto experience, 52.7% believed that the bull run is still in its beginning or early stages. This sentiment was shared by 52.2% of investors with 4-7 years of crypto experience and 51.8% of investors with 8 years or more of crypto experience.
Furthermore, 81.7% of respondents believe that the crypto market has not yet reached its peak and that it will continue its upward trend when the real bull run begins. On the other hand, only 8.1% of participants believe that the market has already peaked for this cycle and will only go down from here.
The survey, which was conducted anonymously between June 25 and July 8, 2024, received responses from 2,558 crypto investors.
Overall, the survey results indicate that the majority of small investors remain optimistic about the future of the crypto bull market, with a belief that there is still room for growth and potential for further gains.
*Please note that this article does not constitute investment advice.
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