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Bitcoin Bonanza: 84% Predict New Highs, Investors Set to Fuel the Fire

Last Updated February 2, 2024 12:06 PM
Teuta Franjkovic
Last Updated February 2, 2024 12:06 PM

Key Takeaways

  • Majority expect Bitcoin to hit ATH before the halving.
  • MENA & Eastern Europe investors show the strongest appetite for increasing their crypto holdings.
  • Western European investors exhibit a “wait-and-see” approach before the halving.

A new global study conducted by Bitget sheds light on the optimistic outlook  of the crypto market, gathering opinions from nearly 10,000 participants spanning regions including Western Europe, Eastern Europe, Southeast Asia, East Asia, MENA, and Latin America.

The survey, shared with CCN, reveals that over half of the respondents worldwide expect Bitcoin prices to range between $30,000 and $60,000 during the halving period (circa April 2024), with 30% predicting the price will surpass $60,000.

Global Optimism for Bitcoin’s Surge Pre-Halving 2024

In a recent report, Bitget unveils an overwhelming belief among investors in Bitcoin’s potential to eclipse its previous highs before 2024. The survey captured a global pulse on investor sentiment towards cryptocurrency assets, indicating a robust faith in substantial growth leading up to the next halving event.

Incorporating views from nearly 10,000 individuals across various international regions, the study provides a panoramic insight into the expected valuation of Bitcoin and the broader crypto market in the future. The diverse participant profile underscores the widespread enthusiasm and confidence in digital currencies as a viable investment avenue, reflecting a collective anticipation of significant market growth on a global scale.

2024 Pivotal Year for Bitcoin as Halving Survey Reveals Bullish Bets

Gracy Chen, the Managing Director of Bitget, emphasizes that the study focusing on Bitcoin’s forthcoming halving event “sheds light on the dynamic nature of cryptocurrency investment.” She noted that the survey’s outcomes present a diverse array of anticipations and investment strategies, marking 2024 as a pivotal year for the Bitcoin market.

The data from the survey predominantly suggests a strong investor conviction in Bitcoin’s ascent to new price peaks. The anticipation surrounding the fourth reward halving event is notably high, with many considering it a critical milestone for the leading digital currency, possibly driving it to new heights.

This optimism finds its roots in historical trends, as previous halvings have consistently led to significant market rallies, reinforcing the positive outlook of the survey participants. Furthermore, the survey reveals proactive investment intentions, with 70% of respondents planning to increase their holdings in crypto assets in the upcoming year, signaling a bullish sentiment towards the market’s future.

MENA, Eastern Europe Show Bigger Bite for Bitcoin

This intent is especially notable among participants from the MENA region and Eastern Europe , where there is a distinct inclination towards expanding investments in digital currencies.

Furthermore, Bitget’s survey reveals a nuanced investment perspective among Western European  investors, characterized by a “short-term cautious, long-term optimistic” approach, indicating a strategic balance of prudence in the immediate term and bullishness for the future.

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