All data in this report is captured and analyzed by Huobi Research; please cite the source “Huobi Cryptocurrency Market Sentiment Report” for reference.

Summary

The monthly market sentiment index in this month came to 64.7points, decreased 8.9% from the previous month; the short-term sentiment index was 58.2 points, decreased 13.0% from the previous month; the medium-term sentiment index was 61.7 points, decreased 20.7% from the previous month; the long-term sentiment index was 84.7 points, decreased 5.0% from the previous month.

Huobi’s Market Sentiment Index score ranges from 0–100, with 50 points representing neutral sentiment.

A total of 423 valid questionnaires were collected this month, The respondent includes institutional investors and individual investors. The questionnaires were distributed from October 25th to October 30th through domestic and overseas channels such as WeChat public account, twitter, and telegram communities. Cryptocurrency investors from 23 Countries participated in this survey, including China, United States, South Korea, Japan, and Singapore.

Disclaimer: This result of this survey does not constitute any investment advice from Huobi Research. Nor does this article contain any tips, hints or guarantees to investing. Investors should make their own independent research before reaching the final investment decision, and Huobi Research shall not be liable in any manners for any consequences of any reliance thereon or usage thereof. Currently, all surveys are distributed through the Internet with participants remain unidentified. As a result, although we try to expand the scope and diversity of the survey respondents as much as we can, we cannot rule out selection bias during the survey process. Thus, the result of this survey does not represent the view of all cryptocurrency investors.

（1）Survey Result

Question 1:How do you expect the total cryptocurrency market capitalization to change in the coming month?

A. Increase Substantially (>30%);

B. Increase Slightly (10~30%);

C. Remain the same (Within±10%);

D. Decrease Slightly (-30~-10%);

E. Decrease Substantially (<-30%).

Short-Term (1 month) Investor Expectations

The short-term market expectations of digital asset among investors are optimistic. Compared with last month, the proportion of investors who believe that the short-term market will rise is 13.2% down to 54.6%, and the proportion of investors who believe that the short-term market will remain flat is 11.5% up to 26.2% in this month. 20.8% of the voters believed that the total Cryptocurrency market capitalization will increase substantially in the next month, 3.5% less than that in last month. The percentage of the investors who believe that the short-term market will remain constant achieves 26.2% in this month, 11.5% higher than that in last month. 19.1% of the voters were bearish toward the market performance in the next month.

Question 2: How do you expect the total cryptocurrency market cap to change in the next 6 months?

A. Increase Substantially (>30%);

B. Increase Slightly (10~30%);

C. Remain the same (Within±10%);

D. Decrease Slightly (-30~-10%);

E. Decrease Substantially (<-30%).

Mid-Term (6 months) investor Expectations

Most of the cryptocurrency investors were bullish toward the Cryptocurrency market in the coming six months, with 35.5% of investors believed that the Cryptocurrency market capitalization will increase slightly. Comparing to the previous month, more investors believed the market will decrease in the coming six months. 69.8% of the voters believed that the total Cryptocurrency market capitalization will increase in the next six months. 13.5% of investors believed that Cryptocurrency market capitalization would remain flat. Compared with last month, 16.7% of voters were pessimistic toward the cryptocurrency market performance in the coming six months, which of that is 6.0% higher than that of the previous month.

Question 3: How do you expect the total cryptocurrency market cap to change in the next three years?

A. Increase Substantially (>30%);

B. Increase Slightly (10~30%);

C. Remain the same (Within±10%);

D. Decrease Slightly (-30~-10%);

E. Decrease Substantially (<-30%).

Long-Term (3 years) investor Expectations

Most of the surveyed investors were bullish toward the long term performance of the Cryptocurrency market. Compared to the previous month, higher percentage of investors thought the total Cryptocurrency market capitalization to decrease over the next three years. 63.1% investors expected the total Cryptocurrency market capitalization to significantly increase over 30%, and 87.4% investors expected the total Cryptocurrency market capitalization to increase over the next three years. In addition, the percentage of investors who hold the faith that the cryptocurrency market would goes down in three years accounts for 9.7%, which is 4.4% higher than that in last month.

（2）Result Breakdown by Geographical Locations

In general, more cryptocurrency investors overseas were optimistic toward a slight increase in the overall Cryptocurrency market capitalization, while more Chinese cryptocurrency investors expected the market cap to substantially increase in the short-, mid-, and long-term. In the short-, mid- and long-term, more Cryptocurrency investors overseas expected the total market cap to increase slightly. In the short-, mid- and long-term, 36.1%, 36.7% and 28.7% of investors overseas thought the market cap to increase slightly, respectively, 11.4%, 6.1% and 21.6% higher than investors in China, respectively. In the short-, mid- and long-term, The percentage of investors in China who believe the market would increase substantially achieves 22.4%, 37.6% and 80.0%, respectively, 2.0%, 4.2% and 21.1% higher than investors overseas, respectively.