CoinGecko: Despite recent market turmoil, 49% of people are still optimistic about Crypto

Author: bitcoinist; Compiler: Blockchain Knight

The Crypto asset market has been up and down in an endless cycle. CoinGecko recently conducted a survey on people related to the Crypto asset industry and obtained some conclusions.

The survey was conducted from June 25 to July 8 and collected responses from more than 2,500 respondents, most of whom have some connection with the Crypto asset field through investment or employment.

The results of the survey were announced on July 10, revealing the feelings of Crypto asset users in detail, where positive and negative market sentiments accounted for almost half.

The survey showed that 49.3% of participants were optimistic about the future value of Crypto assets, and a considerable number of them still believed that Crypto assets had the potential to gain more gains and growth in the coming months.

Meanwhile, about a quarter of people have little hope, but they are almost evenly divided into completely bearish and slightly bearish. More than a quarter of participants have no preference or a weak preference for either bullish or bearish outcomes.

This neutral attitude is interpreted by many as a cautious attitude, perhaps waiting for clearer market signals before taking a firmer stance.

LimYuQian, a research analyst at CoinGecko, said that this widespread neutral sentiment may mean that market participants are uncertain about the direction of BTC, or are taking a "wait-and-see" attitude while waiting for a clearer trend to emerge.

If analyzed by market participant type, this difference in sentiment will be more obvious. Among them, "bystanders", that is, non-operators or direct investors in the industry, expressed more bearish sentiment, accounting for about 40%.

The "bystanders" group also had the highest proportion of neutral behavior, which may be due to staying away from active trading or a well-thought-out retreat to observe market movements from a distance.

In contrast, the most bullish are experienced Crypto asset owners who have invested in digital currencies for many years. This suggests that the positive view on prices may be related to familiarity with the operation of the market.

The sentiment of Crypto asset industry practitioners is also positive and optimistic, highlighting that no matter what challenges the current market faces, their confidence in the industry and its long-term development potential is unwavering.

While these mixed sentiments paint a picture of a market at a crossroads, with both enthusiasm and caution among participants, it is worth noting that this comes at a time when the market is going against all expectations.

With both spot BTC ETFs and ETH ETFs having been approved by the U.S. Securities and Exchange Commission (SEC), many expected the Crypto asset market to now be bullish. However, contrary to these expectations, the market has recently seen a downward trend.

While the global Crypto asset market currently appears to be experiencing some form of recovery, rising nearly 1% over the past day and currently valued at over $2.2 trillion, it is worth noting that the current market performance comes against the backdrop of a notable plunge in BTC and Ethereum last week.