Only half of crypto investors are bullish: CoinGecko survey

According to a recent survey by CoinGecko, only about half of investors are very knowledgeable about the current crypto market.

The survey, in which 2,558 people participated, was conducted over the past two weeks from June 25 to July 8.

Crypto investors lead a bullish view

CoinGecko's report shows that 49.3% of crypto participants are still optimistic about the market's future. This is despite the crypto market's downward trend following the post-halving rally.

Of these participants, 26.1% felt somewhat bullied, and 23.2% felt completely bullied. Surprisingly, 25% of participants took a neutral stance. On the other hand, 25.2% of the participants expressed their feelings. This bearish group was 13.4% moderately bearish and 11.8% fully bullish.

Breaking down the sentiments by participant type, 54.1% of investors felt bullish and 20.7% were impatient. Construction workers in the space followed closely behind with 47.6% bullish and 31.6% bearish sentiments. Traders showed mixed sentiment, with 39.0% bullish and 33.5% bearish, possibly due to short-term market focus.

Sidelined viewers, with no direct crypto involvement, were the most pessimistic, with only 28.5% of responses being bullish and 42.4% bullish.

Bitcoin's decline continues.

Recent survey results show Bitcoin has fallen about 9.5% since its April 20 halving. Historically, Bitcoin halving events, which occur roughly every four years, have been followed by price rallies in the following months.

However, this time around, Bitcoin is falling after hitting new highs in March. The price action last month was marked by a series of low highs and low lows, with the crypto hitting a two-month low of $53,500 on July 5.

Despite attempts to rally higher, the market's confidence was shaken by the recent selling pressure of $7.6 billion worth of bitcoin. In particular, the funds will be used for the recently defunct crypto exchange Mt. Gox is intended for creditors to be paid. In addition, the recent sale of Bitcoin by the German government has further dampened investor sentiment.