The cryptocurrency market has witnessed sharp declines over the past two weeks. Bitcoin (BTC) and altcoins have seen major drops due to U.S. President Donald Trump’s renewed push for Chinese tariffs.
Despite the downturn, bullish sentiment in the market remains strong. At this point, Coinbase, the largest cryptocurrency exchange in the U.S., revealed in its latest survey that 67% of institutional investors expect BTC to rise over the next six months.
The Coinbase report also showed a divergence of opinion on where we currently stand in the market cycle. 45% of institutional participants believe the market is in the final phase of a bull run, while only 27% of retail investors share that view.
David Duong, Head of Research at Coinbase Institutional, stated that the crypto bull market still has plenty of room to grow, but noted that investors have become more cautious following the major crash on October 10.
