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• Bitget’s report reveals that 84% of survey members predict Bitcoin (BTC) will hit a new all-time excessive in 2024.
• About 70% say they’ve plans so as to add to their crypto investments as they eye the subsequent bull run.

Bitget, one of the crypto exchanges to see remarkable growth in 2023, has launched findings of a new examine on Bitcoin’s upcoming halving, which reveals an amazing majority of investors are bullish on the flagship cryptocurrency post-halving. 

Nearly three quarters say the potential for Bitcoin worth to skyrocket to a new excessive weighs on their plans so as to add to their investments in 2024.

The crypto trade shared the findings of the survey in a report published at this time, Thursday, February 1.

Bitget’s examine – an summary

An evaluation of anonymized knowledge that targeted on investors’ perceptions round Bitcoin’s upcoming halving and the way this impacted their funding selections confirmed that the market is essentially bullish on BTC.

Here’s a spotlight:

• 84% of survey members the subsequent bull run will see Bitcoin worth surpass its earlier all-time excessive of $69,000. Only Europe had a share decrease than 80% amongst all areas.
• Over 50% of all respondents predict BTC will be between $30k and $60k by halving (anticipated round April 2024. 30% of members suppose it may very well be greater than $60k.
• About 70% of respondents stated they’ve plans so as to add to their crypto investments. Highest conviction was expressed throughout MENA and East Europe.
• Western European investors are largely “short-term cautious” and “long-term optimistic”.

2024 may very well be important for Bitcoin, Bitget’s Gracy Chen says

According to Bitget, a numerous world demographic group of investors participated within the examine. In complete, 9,748 people drawn from throughout West Europe, East Europe, South East Asia, East Asia, MENA and Latin America shared their views and predictions for BTC pre-halving and post-halving.

Other than the above highlights, the report additionally reveals 55% of members see Bitcoin price within the $50k-$100k publish halving in 2024. A smaller share predicts a run to above $150k. More folks in West Europe, 51%, expressed this expectation.

Commenting on the findings, Bitget Managing Director Gracy Chen stated: “The Bitget Study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.”

Bitcoin traded at $42,700 on February 1, 2024, up 6.9% prior to now week. Following declines in January, the benchmark cryptocurrency was 5.8% down prior to now month. 

However, analysts at Standard Chartered Bank are amongst these to level to a bullish run for the digital asset, which reached highs of $49k amid the spot Bitcoin ETF euphoria. Analysts on the financial institution predicted final 12 months that BTC could rally to highs of $120k by finish of 2024.