Huobi Pro is one of the biggest cryptocurrency exchanges in the world, featuring among top 3 in daily exchange volume across 103 markets. Huobi Pro’s division, Huobi Pro Academy of Blockchain carries out a monthly cryptocurrency assessment, inquiring the opinion of cryptocurrency investors across the space. Carried out monthly, the Huobi Cryptocurrency Investor Investment Sentiment Index Report reveals a great deal about the leaning of investors about the general direction of overall cryptocurrency prospects. About 2,000 questionnaires were issued to users online across diverse geographical distribution (23 countries in total), the results have been compiled into the just released April issue of the Index Report. The exercise was carried out between April 25 to April 30, allowing us to be aware of the context in which feedback was received. Around this time markets were experiencing a slight upturn after the bear trend that culminated with the timing of the tax season.

April’s questionnaire had 3 questions structured on investors opinion on future prospects of cryptocurrency. The overall market sentiment is established from analyzing the data collected from the aforementioned questions, given in a figure referred to as the overall market sentiment index figure. A link to the Huobi blog on investment sentiment report can be found here https://blog.huobi.pro/hc/en-us/articles/360000058621--April-The-composite-investor-sentiment-index-in-April-increased-17-0-

Cryptocurrency marketcap change in the next one month

Rising from 24% in the previous month, 50.4% of the respondents were confident in the overall market cap increasing in the next monght. About 11% of voters felt there was no upturn in fortunes yet.

Historically, May has been a positive month for cryptocurrency, with markets rebounding after the slump at the beginning of the year. Consensus, held on May 14–16, has usually coincided with upturn of cryptocurrency fortunes, and the hype surrounding this year’s event is makes it a contributing factor.

Cryptocurrency marketcap change in the next half-year

71.4% of voters believed the marketcap would by more than 30% in the next half-year. In contrast only 5.8% of the voters felt otherwise.

Considering the total cryptocurrency marketcap reached a high of around $800bn at the end of last year and spiked down to lows of about $250bn, it would not be unreasonable to see a rebound to recoup the market share lost since. Conservative targets for the end-of-year marketcap have been pegged at $1 trillion, making the medium term outlook a positive one.

What about the change over the next three years?

84% of investors believed that the market value of cryptocurrencies would increase by more than 30% over the next three-year period while 92% in total shared a common opinion on the uptrend in general. Only 2.7% of investors believed the marketcap would fall by more than 30% in the next three years.

In summary, a number of factors might contribute to the long-term prospects of cryptocurrency. The ability of projects to set up the infrastructure will determine adoption. Coupled with positive regulation and increased consumer awareness, the future of blockchain is fairly secure to say the least.

The Market Sentiment Index

The composite investor sentiment is calculated by weighting the results of the three questions together and a final figure given, on a range of 0 to 100, with <25 being most pessimistic and >75 being most positive. The composite investor sentiment index in April scored 83.9, with an MoM increase of 17.0%. The short-term investor sentiment index scored 75.9, with an MoM increase of 24.2%. The med-term sentiment index scored 88.4, with an MoM increase of 15.7%. The long-term sentiment index scored 94.0, with an MoM increase of 7.5%.

Put into context of previous monthly investor sentiment reports held by Huobi Academy of Blockchain Application, the April Assessment report revealed a generally bullish sentiment of cryptocurrency’s future in the short, medium and long-term improving from the previous month. Register today at Huobi Pro, and be part of the cryptocurrency revolution by purchasing some of your favorite altcoins.

April Investor Sentiment Index Report: https://blog.huobi.pro/hc/en-us/article_attachments/360000064881/Huobi_Cryptocurrency_Investor_Sentiment_Index_Report-April.pdf