- According to a report from Bitget, 84% of survey participants predicted that Bitcoin (BTC) will hit a new all-time high in 2024.
- About 70% said they plan to add cryptocurrency investments in anticipation of the next bull run.
Bitget, one of the cryptocurrency exchanges poised for significant growth in 2023, has published new research on the upcoming Bitcoin halving, showing that an overwhelming majority of investors are optimistic about the flagship cryptocurrency’s halving. It shows that.
Nearly three-quarters said the possibility of the price of Bitcoin surging to new highs affects their plans to increase their investments in 2024.
The cryptocurrency exchange shared the survey results in a report released on Thursday, February 1.
Bitget’s Research – Overview
An analysis of anonymized data focused on investor perception of the upcoming Bitcoin halving and how it influences investment decisions, and found that the market is broadly optimistic about BTC.
The main points are as follows:
- 84% of survey participants expected the Bitcoin price to surpass the previous high of $69,000 during the next bull market. Among all regions, only Europe had a rate below 80%.
- More than 50% of all respondents predict that BTC will be worth between $30,000 and $60,000 if it is halved (expected around April 2024). 30% of participants think BTC could be higher than $60,000.
- About 70% of respondents said they plan to add cryptocurrency investments. The highest confidence was expressed across MENA and Eastern Europe.
- Western European investors are generally “cautious in the short term” and “optimistic in the long term.”
Bitget’s Gracy Chen said 2024 will be a big year for Bitcoin.
According to Bitget, a diverse group of investors from different global demographics participated in the study. A total of 9,748 individuals recruited across Western Europe, Eastern Europe, Southeast Asia, East Asia, MENA, and Latin America shared their views and predictions on BTC pre- and post-halving.
In addition to the highlights above, the report shows that 55% of participants expect the Bitcoin price to reach $50,000 to $100,000 after the halving in 2024. A smaller percentage predict it will soar to $150,000 or more. In Western Europe, even more people (51%) expressed this expectation.
Commenting on the findings, Bitget Managing Director Gracy Chen said:Bitget research on the BTC halving impact provides valuable insight into the changing landscape of cryptocurrency investing. The findings reflect widespread expectations and investment plans and indicate that 2024 will be an important year for the Bitcoin market.”
Bitcoin price was trading at $42,700 on February 1, 2024, up 6.9% over the past week. Following January’s decline, the benchmark cryptocurrency fell 5.8% last month.
But analysts at Standard Chartered Bank are among those pointing to the digital asset’s strength, which has reached a high of $49,000 amid spot Bitcoin ETF euphoria. Last year, banking analysts predicted that BTC could rise to a high of $120,000 by the end of 2024.