VICTORIA, Seychelles, February 1, 2024 /CNW/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has released a comprehensive study that focuses on the upcoming Bitcoin cut in half April 2024 and its impact on investment decisions. Conducted across a diverse global demographic, this survey provides an outlook crypto investors’ mindset and how they predict the market will change after the halving.
Bitget Study: 84% Investors Predict BTC Hits New High In Next Bull, 70% Plan To Increase 2024 Investments
The study has a wide range of participants from Western Europe, Eastern Europe, Southeast Asia, East AsiaMENA, and Latin America regions, a total of 9,748 individuals. The methodology involves the analysis of anonymous data, focusing on how investors the Bitcoin halving and how their investment decisions will change based on it.
Bitget Study Highlights:
84% of participants expect in the next bull run BTC will surpass the previous bull market’s all-time high $69,000and almost all other regions exceed 80%, except Eastern Europe. Globally, more than half of the respondents predict Bitcoin prices during the halving (approx April 2024) to switch between $30k and $60kwhile 30% of them believe the price will break $60,000. About 70% of respondents express plans to increase crypto investments with higher proportions in MENA and Eastern Europe indicates a stronger tendency to increase investment. The data suggests a “short-term cautious, long-term optimistic” sentiment among Western European investors.
Almost 84% of the surveyed investors believe this Bitcoin halving will have a positive impact on the crypto market, push Bitcoin past its all-time high of $69k. This sentiment is particularly strong in Latin America, East Asiaand Southeast Asia markets. In contrast, European regions show more conservative expectations.
Predictions for Bitcoins price during the halving to April 2024 to present a diverse picture. While many investors worldwide a range between $30,000 and $60,000around 30% of respondents expect the price to exceed $60,000with increased optimism in markets such as Latin America.
Looking beyond the halving, investors strongly believe this Bitcoin will surpass its previous ATH in the next bull run, with even the most cautious regions showing considerable optimism for the cryptocurrency‘s future. This outlook is supported by a mix of short-term caution and long-term confidence, particularly evident in some European markets.
Regarding all-time high (ATH) price predictions for the next bull market, a majority (55%) foresee the Bitcoin price stabilizes between $50k and $100kwhile a smaller yet significant segment is more bullish, expecting it to rise above $150,000. This optimism is especially pronounced in Western Europea region relatively conservative during the halving period, where more than 51% of investors predict that the next high will be exceeded $100,000.
The study also reveals interesting trends in investment intentions for 2024. Around 70% of participants across the regions surveyed express a clear intention to invest in their crypto investments, indicating a robust confidence in the crypto market’s potential. This trend is particularly strong in regions such as MENA and Eastern Europe, where a higher propensity to increase investment levels is observed. In contrast, Southeast Asia and East Asia presents a more mixed investment outlook and tends to maintain current investment levels.
Bitget Managing Director Grace Chen said: “The Bitget study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.”
“We are pleased to see such positive sentiment emerging as market conditions continue to recover. At Bitget, we firmly believe in Bitcoin‘s potential to establish itself as a truly global store of value. As a leading exchange, we aim to play our part in contributing to the growth and development of the Bitcoin ecosystem through innovative product offerings, educational resources and unwavering support from the community. The path forward remains clear, and we look forward to empowering more investors and institutions to participate Bitcoin‘s ongoing success story,” Gracy added.
About Bitget Founded in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving more than 20 million users in over 100 countries and regions, the Bitget exchange is committed to helping users trade smarter with its groundbreaking copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet offering a variety of comprehensive Web3 solutions and features including wallet functionality, exchange, NFT Marketplace, DApp browser and more. Bitget inspires individuals to embrace crypto through cooperation with credible partners, including legendary Argentine soccer player Lionel Messi and the official organizer of eSports events PGL.
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SOURCE Bitget
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