84% of investors predict that Bitcoin will hit a new ATH.
A Bitget report shows that 84% of survey participants predict that Bitcoin (BTC) will reach a new all-time high in 2024. About 70% say they plan to add to crypto investments as they anticipate the next bull run.
Bitget, one of the crypto exchanges to see dramatic growth in 2023, has released the findings of a new study on the upcoming Bitcoin halving, which shows that the vast majority of investors are bullish on the major cryptocurrency's post-halving.
Nearly three-quarters say Bitcoin's price could rise to new highs in 2024, weighing on their plans to add to their investments.
The crypto exchange shared the findings of the survey in a report published today, Thursday, February 1.
Bitget Research – Overview
An analysis of anonymized data focused on investors' perception of Bitcoin's upcoming halving and how this influenced their investment decisions revealed that the market is heavily pressured on BTC.
Here's a highlight:
84% of survey participants see Bitcoin price surpassing the previous all-time high of $69,000 in the next bull run. Only Europe had less than 80% of all regions. More than 50% of all respondents predict that BTC will halve to between $30k and $60k (expected around April 2024. 30% of participants think it could be above $60k. 70% of respondents said they plan to add to their maximum penalty across MENA and Expressed in Eastern Europe: Western European investors are mostly “short-term cautious” and “long-term optimistic”.
2024 could be significant for Bitcoin, says Bitgate's Gracie Chen.
According to Bitgate, investors from a diverse global demographic group participated in the survey. A total of 9,748 individuals from Western Europe, Eastern Europe, Southeast Asia, East Asia, MENA and Latin America shared their views and predictions for BTC pre-half and post-half.
In addition to the highlights listed above, the report shows that 55% of participants see the value of Bitcoin halving to $50k-$100k by 2024. A small percentage are predicted to run over $150k. More people in Western Europe, 51%, expressed this hope.
Commenting on the findings, BitGate Managing Director Gracie Chen said, “BitGate's research on BTC halving provides important insights into the evolution of cryptocurrency investment. The findings reflect the expectations and investment plans that were made in 2015. It shows that 2024 will be an important year for the Bitcoin market.
Bitcoin traded at $42,700 on February 1, 2024, up 6.9% over the past week. Following a decline in January, the benchmark cryptocurrency fell 5.8% last month.
However, analysts at Standard Chartered Bank are among those predicting a higher run for the digital asset, which hit a record high of 49k amid Bitcoin ETF euphoria. The bank's analysts predicted last year that BTC could rise to $120k by the end of 2024.
