Bitget, a prominent player in the cryptocurrency and Web3 sector, has unveiled a comprehensive study centered around the imminent Bitcoin halving slated for April 2024, aiming to shed light on its implications for investment strategies. This in-depth survey, encompassing a diverse global demographic, provides valuable insights into the mindset of crypto investors and their forecasts regarding market dynamics post-halving.
The research project engaged a substantial sample of 9,748 individuals hailing from various regions, including West Europe, East Europe, South East Asia, East Asia, MENA, and Latin America. Employing anonymized data analysis, the study sought to discern how investors perceive the impending Bitcoin halving and how their investment strategies are poised to evolve in response.
Notably, an overwhelming 84% of surveyed investors harbor optimism about the positive repercussions the Bitcoin halving will exert on the crypto market, with widespread belief that it will propel Bitcoin past its all-time high of $69,000. This sentiment is particularly fervent in Latin America, East Asia, and South East Asia, whereas European regions tend to adopt a more cautious outlook.
Expectations regarding Bitcoin’s price during the impending halving in April 2024 span a wide spectrum. While a substantial portion of global investors anticipates a price range between $30,000 and $60,000, around 30% of respondents envision the price soaring beyond $60,000, with heightened enthusiasm in markets like Latin America.
Looking ahead to the post-halving landscape, investors collectively share the belief that Bitcoin will surpass its previous all-time high during the subsequent bull run. This optimism stems from a combination of short-term prudence and long-term confidence, notably prevalent in select European markets.
When it comes to predictions for the all-time high (ATH) price in the next bull market, the majority (55%) foresee Bitcoin stabilizing within the $50,000 to $100,000 range, while a notable segment remains even more bullish, expecting it to surge past $150,000. This bullish sentiment is especially pronounced in West Europe, a region that leaned toward conservatism during the halving period.
The study also unveils intriguing trends in investment intentions for 2024. Approximately 70% of participants from the surveyed regions express a clear intention to augment their crypto investments, signaling a robust confidence in the crypto market’s potential. This trend is particularly robust in MENA and East Europe, where investors exhibit a higher propensity to bolster their investment levels. Conversely, South East Asia and East Asia display a more balanced investment outlook, with a preference for maintaining current investment levels.
Bitget’s Managing Director, Gracy Chen, expressed her thoughts on the study, emphasizing its significance in understanding the evolving cryptocurrency investment landscape. She underscored the varied expectations and investment plans that the findings reflect, highlighting 2024 as a pivotal year for the Bitcoin market.
“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 recovering. 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 of the community. The road ahead remains bright, and we look forward to empowering more investors and institutions alike to participate in Bitcoin’s ongoing success story,” Gracy concluded.
