According to a research report by the exchange Bitget, which interviewed nearly 10,000 investors, 84% of investors believe that Bitcoin will soon surpass its historical high of $69,000 after the halving, and 70% of investors explicitly stated that they plan to increase their holdings in 2024.
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84% of respondents believe that BTC will surpass its historical high after the halving
70% of investors plan to increase their cryptocurrency holdings in 2024
Predictions for the peak of the bull market
Bitcoin is about to undergo its latest halving event in April this year. In the past, the market has predicted that BTC will follow its historical trajectory and experience a bull market after the halving.
Against this backdrop, the cryptocurrency exchange Bitget released a comprehensive research report earlier this month, revealing the market’s expectations for the halving after interviewing nearly 10,000 investors.
84% of respondents believe that BTC will surpass its historical high after the halving
According to the Bitget report, 84% of investors are currently optimistic that Bitcoin will surpass its historical high of $69,000 shortly after the halving. Among them, investors from Latin America, East Asia, and Southeast Asia are the most bullish, while investors from Western and Eastern Europe hold a more conservative attitude. However, they also express optimism about the long-term development trajectory of Bitcoin.
Image source: Bitget
70% of investors plan to increase their cryptocurrency holdings in 2024
At the same time, the report also pointed out that 70% of investors explicitly stated that they will increase their holdings of cryptocurrencies in 2024. Among them, investors from the Middle East, North Africa, and Eastern Europe are the most aggressive, while investors from Southeast Asia and East Asia believe that they need to wait for the market to stabilize after the halving before adding positions.
Image source: Bitget
Predictions for the peak of the bull market
Finally, Bitget also released investors’ predictions for the next bull market. The report shows that 55% of investors believe that Bitcoin will stabilize in the range of $50,000 to $100,000, and only 8% of investors believe that Bitcoin will surpass the $150,000 mark.
Interestingly, although Western Europe has shown a cautious attitude towards the halving’s direct impact, their predictions for the bull market give the highest price, reflecting their investment sentiment of “short-term caution, long-term optimism.”
Image source: Bitget
Further reading:
Mining Report: Bitcoin needs to reach $100,000 after the halving for large-scale mining companies to avoid losses.
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