• A report from Bitget revealed that 84% of survey members anticipate Bitcoin (BTC) to hit a brand new all-time excessive in 2024.
• Round 70% say they plan to extend their crypto investments in anticipation of the following bull market.

BitGet, one of many crypto exchanges anticipated to see spectacular development in 2023, has introduced new analysis on Bitcoin's upcoming halving, indicating that an amazing majority of buyers will It confirmed that it’s bullish on the forex.

Almost three-quarters say the potential for Bitcoin costs surging to new highs weighs on their plans to extend their investments in 2024.

The cryptocurrency alternate shared its findings in a report printed right this moment, Thursday, February 1st.

Biggett Analysis – Overview

An evaluation of nameless knowledge targeted on buyers’ perceptions of Bitcoin’s upcoming halving and the way it impacts funding selections exhibits that the market is basically bullish on BTC. It was carried out.

Listed below are the highlights:

• 84% of survey members anticipate the following bull market to see Bitcoin costs surpass its all-time excessive of $69,000. Amongst all areas, solely Europe had a share under 80%.
• Greater than 50% of all respondents anticipate BTC to fall between $30,000 and $60,000 upon halving (anticipated round April 2024). 30% of members assume it may exceed $60,000.
• Roughly 70% of respondents mentioned they plan to extend their investments in cryptocurrencies. The best convictions have been expressed throughout MENA and Jap Europe.
• Buyers in Western Europe are usually cautious within the quick time period however optimistic in the long run.

2024 may very well be an enormous 12 months for Bitcoin, says Bitget's Gracie Chen

Based on Bitget, a demographically various group of buyers from world wide participated within the examine. A complete of 9,748 individuals from Western Europe, Jap Europe, Southeast Asia, East Asia, MENA, and Latin America shared their views and predictions earlier than and after the BTC halving.

Past the highlights above, the report additionally exhibits that 55% of members imagine the worth of Bitcoin will likely be between $50,000 and $100,000 after the halving in 2024. A fair smaller share anticipate it to exceed $150,000. Much more individuals in Western Europe (51%) expressed this expectation.

Commenting on the findings, Bitget Managing Director Gracie Chen mentioned:Bitget analysis on the influence of the BTC halving supplies helpful perception into the evolving panorama of cryptocurrency investing. The survey outcomes mirror a variety of expectations and funding plans and point out that 2024 will likely be a big 12 months for the Bitcoin market.”

Bitcoin traded at $42,700 on February 1, 2024, and is up 6.9% over the previous week. Following January's decline, the benchmark cryptocurrency has fallen 5.8% up to now month.

Nevertheless, analysts at Commonplace Chartered Financial institution pointed to the digital asset's bullish transfer amid the Spot Bitcoin ETF euphoria, noting that the Bitcoin ETF hit a excessive of $49,000. There may be. Analysts on the financial institution predicted final 12 months that BTC may rise to a excessive of $120,000 by the tip of 2024.