The latest predictions from Bitget, a leading cryptocurrency exchange, reveal that 84% of investors believe that Bitcoin will reach a new all-time high in the next quarter. Additionally, 70% of investors plan to increase their cryptocurrency investments in 2024.
Bitget recently conducted a comprehensive study on the upcoming Bitcoin halving in April 2024. The study focused on investors’ perceptions and their investment decisions in the cryptocurrency market. The survey included over 9,700 participants from various regions around the world.
According to the study, 84% of participants predict that Bitcoin will surpass its previous all-time high of $69,000 during the next bullish phase. This sentiment is shared by the majority of respondents from different regions, except for Eastern Europe.
The study also found that more than half of the respondents expect the price of Bitcoin during the halving to be between $30,000 and $60,000, while 30% predict that it will exceed $60,000. Moreover, about 70% of participants plan to increase their investments in cryptocurrencies, with higher percentages in the MENA region and Eastern Europe.
The survey indicates a sentiment of “short-term caution, long-term optimism” among investors in Western Europe. Despite this caution, almost 84% of investors believe that the halving of Bitcoin will have a positive impact on the cryptocurrency market and push Bitcoin beyond its previous all-time high.
Looking ahead, investors maintain a strong belief that Bitcoin will surpass its previous all-time high in the next bullish phase. Even regions with cautious expectations show remarkable optimism for the future of cryptocurrency.
In terms of future price projections, 55% of participants predict that Bitcoin will stabilize between $50,000 and $100,000 during the next bullish cycle. A smaller percentage is more optimistic, predicting a peak above $150,000.
The study also highlights investment trends for 2024. Around 70% of participants express their intention to increase investments in cryptocurrencies, demonstrating a strong confidence in the market’s potential. This trend is particularly evident in the MENA region and Eastern Europe.
Gracy Chen, CEO of Bitget, commented on the study, stating that it provides valuable insights into the evolving landscape of cryptocurrency investments. Chen believes that the results reflect a wide range of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.
Overall, Bitget’s study suggests that investors are optimistic about Bitcoin’s future and are planning to increase their investments in cryptocurrencies.
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