Bitget BTC halving study: 84% investors predict Bitcoin will hit a new ATH

  • Bitget’s report reveals that 84% of survey individuals predict Bitcoin (BTC) will hit a new all-time excessive in 2024.
  • About 70% say they’ve plans so as to add to their crypto investments as they eye the following bull run.

Bitget, one of many crypto exchanges to see outstanding development in 2023, has launched findings of a new research on Bitcoin’s upcoming halving, which exhibits an amazing majority of investors are bullish on the flagship cryptocurrency post-halving. 

Almost three quarters say the potential for Bitcoin value to skyrocket to a new excessive weighs on their plans so as to add to their investments in 2024.

The crypto change shared the findings of the survey in a report published at present, Thursday, February 1.

Bitget’s research – an outline

An evaluation of anonymized information that targeted on investors’ perceptions round Bitcoin’s upcoming halving and the way this impacted their funding selections confirmed that the market is essentially bullish on BTC.

Right here’s a spotlight:

  • 84% of survey individuals the following bull run will see Bitcoin value surpass its earlier all-time excessive of $69,000. Solely Europe had a share decrease than 80% amongst all areas.
  • Over 50% of all respondents predict BTC will be between $30k and $60k by halving (anticipated round April 2024. 30% of individuals assume it may very well be larger than $60k.
  • About 70% of respondents stated they’ve plans so as to add to their crypto investments. Highest conviction was expressed throughout MENA and East Europe.
  • Western European investors are largely “short-term cautious” and “long-term optimistic”.

2024 may very well be important for Bitcoin, Bitget’s Gracy Chen says

In line with Bitget, a various international demographic group of investors participated within the research. In whole, 9,748 people drawn from throughout West Europe, East Europe, South East Asia, East Asia, MENA and Latin America shared their views and predictions for BTC pre-halving and post-halving.

Apart from the above highlights, the report additionally exhibits 55% of individuals see Bitcoin value within the $50k-$100k put up halving in 2024. A smaller share predicts a run to above $150k. Extra folks in West Europe, 51%, expressed this expectation.

Commenting on the findings, Bitget Managing Director Gracy Chen stated: “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.

Bitcoin traded at $42,700 on February 1, 2024, up 6.9% up to now week. Following declines in January, the benchmark cryptocurrency was 5.8% down up to now month. 

Nonetheless, analysts at Normal Chartered Financial institution are amongst these to level to a bullish run for the digital asset, which reached highs of $49k amid the spot Bitcoin ETF euphoria. Analysts on the financial institution predicted final yr that BTC might rally to highs of $120k by finish of 2024.

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