The decline in Bitcoin (BTC) and altcoins, which started in June, continued in the first week of July. While the sharp declines made investors nervous, speculations that the bull market was over were put forward.
At this point, Coingecko conducted a recent survey to gauge investors' predictions.
Accordingly, 81.6%, which constitutes the majority of cryptocurrency investors, said they believe that the crypto bull run is not over yet.
One in two respondents, 52.3%, predicted that the current bull run is still in its early or early stages, while 29.3% thought the market was in the middle of a bull run.
In contrast, only 18.4% of respondents think the current crypto bull market is in its final stages or has already ended.
Similar predictions were made about what stage of the current cycle the market is in, distinguishing between newcomers to the crypto industry and experienced investors.
52.7% of investors with 0-3 years of crypto experience; 52.2% of investors with 4-7 years of crypto experience and 51.8% of investors with 8 years or more of crypto experience predicted that the current bull run is still in its beginning or early stages.
81.7% of respondents believe that the crypto market has not yet reached its peak and that the market will continue its upward trend when the real bull starts.
The rate of participants who say “We have reached the peak for this cycle, the market will only go down from now on” is 8.1%.
It was stated that 2,558 crypto investors participated in the anonymous survey between June 25 and July 8, 2024.
Is the crypto bull run over? 📉
Our recent survey found that 81.6% of participants believe the crypto bull run isn't over, with 52.3% thinking it's still in its early stages.
Read the full study here: https://t.co/ztRTqW22jK pic.twitter.com/iInc3IElDQ
— CoinGecko (@coingecko) July 13, 2024
*This is not investment advice.
