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54% of investors believe in Bitcoin growth

Almost three months after the Bitcoin (BTC) halving, enthusiasts remain optimistic. More than half of investors remain bullish despite the overall crypto market pullback.

According to recent survey data aggregator CoinGecko, 49.3% believe in a bullrun and are really looking forward to it. At the same time, about a quarter take a neutral position.

Cryptocurrency investors and developers are optimistic

During the survey, analysts studied different groups within the crypto community, which allowed them to identify differences in their sentiments. Notably, 54.1% of investors are optimistic about the long-term potential of the market, demonstrating a strong belief in the sustainable value of cryptocurrencies.

Developers are not sad either: 47.6% of them hold a “bullish” position, and 31.6% a “bearish” one.

The picture is less clear for traders. Some 39% of respondents remain optimistic, which is in stark contrast to their usual short-term trading strategies that react quickly to market changes. In this group, 33.5% of respondents are pessimistic about future price dynamics, which highlights their sharp reaction to recent fluctuations.

Observers — less active market participants — turned out to be the most “bearish” group. Here, 42.4% of survey participants do not believe in the growth potential. Analysts counted only 28.5% of optimists.

During the study, experts surveyed 2,558 crypto community members. Of these, 69% consider themselves crypto investors, 18% – traders, 7% – developers, and 6% – third-party observers.

According to CoinGecko, at the time of writing, Bitcoin is trading at around $58,000. This is more than 10% lower than after the BTC halving, which took place on April 20 of this year.

The Fear and Greed Index, which measures sentiment in the crypto market, is currently in the “fear” zone. The reading is 28, signaling the onset of one of the scariest periods in the past year.

However, some investors see the dip as an ideal buying opportunity, arguing that fear often grips the market just before a recovery and rally.

“For me, I like to buy when everyone is at their most pessimistic. The crypto Fear and Greed Index is currently in the fear zone, which is usually a good time to buy. For altcoins, it’s probably close to extreme fear. If you extend your horizon beyond the next 3-4 weeks, the outlook starts to look more positive. Crypto investor sentiment is notoriously volatile, and rapid changes are common,” noted well-known crypto investor Calvin Koh.

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Source: Cryptocurrency

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