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Bitget study reveals: 84% of investors expect new high for Bitcoin, 70% plan to increase investments in 2024

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Global perspectives on the upcoming Bitcoin halving and its impact on investment decisions

At a time when cryptocurrencies continue to shape the financial world, Bitget, a leading global crypto exchange, publishes a comprehensive study on the upcoming Bitcoin halving in April 2024 and its influence on investment decisions. The study, which draws on a wide range of participants from different regions of the world, provides insight into the mindset of crypto investors and how they predict market changes post-halving.

Key statements from the Bitget study on Bitcoin halving

  • Overwhelming optimism: 84% of investors surveyed expect Bitcoin to exceed its previous all-time high of 69,000 USD in the next bull market. This expectation is over 80% in almost all regions, except Eastern Europe.
  • Halving Price Predictions: More than half of global participants predict that Bitcoin price will be between 30,000 and 60,000 USD during the April 2024 halving, while 30% believe it will exceed 60,000 USD.
  • Increasing investment intentions: Around 70% of respondents plan to increase their crypto investments in 2024, with particularly high shares in the MENA region and Eastern Europe.
  • Regional differences in optimism: Latin America, East Asia and Southeast Asia show particularly high optimism about the impact of the Bitcoin halving on price, while Western Europe and Eastern Europe show relative caution.
  • Long-Term Confidence: Despite short-term caution, investors, particularly in Western Europe, are showing long-term confidence with predictions that Bitcoin’s next high could be above 100,000 USD.

Methodology and demographic coverage

The Bitget study analyzed anonymized data from 9,748 participants from Western Europe, Eastern Europe, Southeast Asia, East Asia, the MENA region and Latin America. The aim was to understand how investors perceive the Bitcoin halving and how their investment decisions might change as a result.

Expectations and investment intentions

Interestingly, almost 84% of investors surveyed believe that the Bitcoin halving will have a positive impact on the crypto market by pushing Bitcoin past its previous all-time high of 69,000 USD. This view has particularly strong traction in Latin America, East Asia and Southeast Asia. European regions, on the other hand, show more conservative expectations.

Price expectations during the halving

The predictions for the Bitcoin price during the April 2024 halving are varied. While many investors worldwide expect a price between 30,000 and 60,000 USD, around 30% of respondents expect the price to exceed 60,000 USD, especially in more optimistic markets such as Latin America.

Outlook for the next bull market

Despite the majority expectation that Bitcoin prices will be below $60,000 during the halving, an impressive 84% of participants expect BTC to surpass the previous all-time high of 69,000 USD in the next bull market. Even the most cautious regions are showing significant optimism for the future of cryptocurrency. This outlook is characterized by a mix of short-term caution and long-term confidence, particularly in some European markets.

All-time high predictions for the next bull market

A majority (55%) predict Bitcoin price will be between 50,000 and 100,000 USD in the next bull market, while a smaller but significant portion are even more bullish and expect it to rise above 150,000 USD. This optimism is particularly pronounced in Western Europe, a region that is relatively conservative during the halving, where over 51% of investors predict the next high above 100,000 USD.

Investment intentions for 2024

The study also reveals interesting trends in investment intentions for 2024. About 70% of participants from the surveyed regions express a clear intention to increase their crypto investments, indicating robust confidence in the potential of the crypto market. This trend is particularly strong in regions such as the MENA region and Eastern Europe, where a higher propensity to increase investment levels is observed. In contrast, Southeast Asia and East Asia show a more mixed investment picture and tend to maintain their current investment levels.

Conclusion and outlook

Bitget’s study on the impact of the BTC halving provides valuable insights into the evolving cryptocurrency investment landscape. The results reflect a wide range of expectations and investment plans and suggest that 2024 will be a significant year for the Bitcoin market.

Gracy Chen, Managing Director at Bitget, commented: “We are pleased to see such positive sentiment as market conditions continue to recover. At Bitget, we strongly believe in Bitcoin’s potential to establish itself as a globally recognized store of value. As a leading exchange, we strive to do our part in the growth and development of the Bitcoin ecosystem through innovative product offerings, educational resources, and unwavering community support. The path forward remains promising, and we look forward to helping more investors and institutions share in Bitcoin’s continued success,” Gracy added.

 

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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