Source: bitcoinist

Compiled by: Blockchain Knight

The Crypto asset market has been up and down in an endless cycle. Coingecko recently conducted a survey of people related to the Crypto asset industry and reached 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 to the crypto asset space through investment or employment.

The survey results, released on July 10, provide a nuanced look at how crypto asset users feel, with sentiment split almost evenly between positive and negative.

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 have the potential to gain more gains and growth in the coming months.

Meanwhile, about a quarter of participants were not optimistic, but they were almost evenly split between being completely bearish and slightly bearish. More than a quarter of participants had no preference or a weak preference for either a bullish or bearish outcome.

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

LimYuQian, a research analyst at CoinGecko, said this widespread neutral sentiment could mean that market participants are unsure of BTC’s direction, or are taking a “wait-and-see” approach while waiting for a clearer trend to emerge.

This difference in sentiment is even more pronounced when analyzed by market participant type, with “bystanders”, or those not operating or directly investing in the industry, expressing more bearish sentiment, accounting for about 40%.

The “bystanders” group also had the highest rate of neutral behavior, which could be due to staying away from active trading or perhaps a deliberate retreat to observe market movements from a distance.

Conversely, the most bullish are experienced crypto asset owners who have invested in digital currencies for many years. This suggests that positive sentiment about prices may be related to familiarity with how the market works.

The sentiment among crypto asset industry players is equally positive, highlighting that regardless of the current market challenges, their confidence in the industry and its long-term 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 is happening at a time when the market is defying all expectations.

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

While the global crypto asset market appears to be experiencing some form of recovery at the moment, gaining 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.