Huobi Cryptocurrency Investor Sentiment Index Reports a Bullish Increase
Huobi, one of the most important crypto exchanges in the world, has unveiled its latest report about investor’s sentiment on the cryptocurrency market. April’s report, shows a bullish increase compared to March, in the short, medium and long term.
How Does The Huobi Crypto Investor Index Work?
The Huobi Pro Academy of Blockchain is carrying out a monthly cryptocurrency assessment in which they measure the sentiment of the investors in the cryptocurrency space. It allows individuals, and enterprises to know which is the general view of market participants in different periods of time.
According to the latest report, the composite investor sentiment index in April scored 83.9 with a MoM increase of 17%. At the same time, the short-term investor sentiment index scored 75.9, registering a MoM increase of 24.2%. The med-term sentiment index scored 88.4 and a MoM increase of 15.7%. Finally, the highest result was obtained by the long-term sentiment index, that scored 94 with an MoM increase of 7.5%.
The questions have been answered through WeChat subscriptions, Weibo, E-mail, twitter and other important social platforms. But it is important to mention that it is the first time that data from professional investment institutions was gathered.
The report reads as follows:
“The short-term market expectations of investors were optimistic. 50.4% of voters believed that the total market value of cryptocurrency would substantially increase in the next month, rose by 24.4% over the previous month.”
Moreover, 81% of the voters believed that the market value of cryptocurrencies would increase in the next months. While, 11.4% had a more pessimistic view and believed that the market value of the next month (May) will decline.
About the middle-term market, the expectations remain bullish as well.
“Most of the investors were bullish about the medium-term market, 71,4% of the voters believed that the total market value of cryptocurrency would substantially increase in next half year; compared with previous month, the voters who selected slightly increase declined slightly.”
At the same time, in the long run, most investors are very confident about the future growth of the market value. Compared with the previous report, the votes who selected slump fell 4.2% to 2.7%.
This could be just the beginning of a new bull market in the cryptocurrency sphere. In the last month, virtual currencies have grown, and Bitcoin could see itself crossing $10,000 in the next weeks or month.