Only 49.3% of crypto investors remain bullish post Bitcoin halving – CoinGecko Survey

Just two months after the Bitcoin halving, the crypto market sentiment has become fragmented, with no solid consensus. According to a recent survey by CoinGecko, 49.3% of crypto participants remained optimistic about the market, despite the drop that has reversed the early post-Halving rise. 

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The survey, which included 2,558 participants, was carried out over the last two weeks, from June 25 to July 8. Specifically, 26.1% of survey respondents were moderately bullish, somewhat more than the 23.2% who were extremely bullish. 

Source: CoinGecko Post-Halving sentiment survey of 2,558 crypto participants (Jun 25 – Jul 8, 2024)

Among these participants, 26.1% were somewhat bullish, while 23.2% were completely bullish. Interestingly, 25% of participants took a neutral market stance. On the other hand, 25.2% of participants showed pessimistic attitude. This bearish group was about evenly divided, with 13.4% moderately bearish and 11.8% very bearish.

Breaking down the sentiments by participant type, investors were the most optimistic, with 54.1% positive and only 20.7% pessimistic. Builders in the space followed closely, with 47.6% bullish and 31.6% pessimistic attitudes. Traders had mixed sentiments, with 39.0% bullish and 33.5% negative, probably due to their short-term market emphasis.

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Among those who took the survey, 69% identified as crypto investors with mostly long-term holdings, 18% as traders with predominantly short-term holdings, 7% as builders, and 6% as sidelines spectators. 

In terms of how long individuals had been in crypto, 46% were in their first cycle (0 to 3 years), 41% in their second cycle (4 to 7 years), and the rest were veterans with 8 or more years of experience. Geographically, 90% of participants said they were headquartered in Europe, Asia, North America, or Africa, with the remainder in Oceania or South America.

Source: CoinGecko Post-Halving sentiment survey of 2,558 crypto participants (Jun 25 – Jul 8, 2024)

According to the recent survey findings, Bitcoin has plummeted by around 9.5% since its halving on April 20. Historically, Bitcoin halving events, which occur every four years, have been followed by price increases in the months that follow.

However, Bitcoin has been plummeting since reaching a fresh all-time high in March. Over the last month, its price behavior has been characterized by a sequence of lower highs and lower lows, with the cryptocurrency falling to a two-month low of $53,500 on July 5.

Sidelined viewers, who had no direct cryptocurrency participation, were the most negative, with only 28.5% of responses being bullish and 42.4% being bearish.