84% of cryptocurrency investors predict Bitcoin halving will push BTC price above previous all-time highs: Bitget Study

Key Takeaways

• Optimism surrounding Bitcoin’s future: The study revealed strong optimism among cryptocurrency investors, with 84% of participants expecting Bitcoin to surpass the previous bull market’s all-time high of $69,000. This optimism is widespread across most regions, suggesting a bullish sentiment prevailing in the cryptocurrency market.
• Bitcoin Halving Impact: The majority of investors (about 78% globally) believe that the Bitcoin halving will have a significant impact on the price. Latin America, East Asia, and Southeast Asia showed high optimism, while Western and Eastern Europe showed a more cautious outlook, showing different perceptions of the half-life effect.
• Price expectations for Bitcoin: According to the study, more than half (53%) of respondents globally expect the Bitcoin price to be between $30,000 and $60,000 during the fourth halving in April 2024. Additionally, 30% of investors believe the price will break the $60,000 barrier. These expectations vary by region, with Latin America being particularly optimistic.
• Investment intentions for 2024: Looking ahead to 2024, approximately 70% of investors have announced plans to increase their cryptocurrency investments. MENA and Eastern Europe appear more inclined to increase investment, while investors in Southeast Asia and East Asia appear more inclined to maintain their current positions. This shows the continued interest in cryptocurrency investment and the variety of strategies pursued by investors in different regions.

Despite various halving predictions, cryptocurrency investors around the world are optimistic about Bitcoin’s future.

A comprehensive study conducted by Bitget, one of the world’s leading cryptocurrency exchanges and Web3 companies, has revealed key insights into the financial goals and expectations of cryptocurrency investors. The study, which involved a representative sample of 9,748 participants from various regions around the world, sought to identify important trends and opportunities in the cryptocurrency space and gain insights to improve Bitget’s platform and services.

A Bitget study conducted in November and December 2023 specifically examined the topic of Bitcoin ​​halving and its potential impact on investment decisions. Highlights of the study include:

Bitcoin price expectations

One of the most important findings of the study is the overwhelming optimism surrounding Bitcoin’s price performance. A whopping 84% of participants expect BTC to surpass its previous all-time high of $69,000 during the previous bull market. This optimism is widespread, with rates above 80% in almost all regions except Eastern Europe.

Globally, more than half (53%) of respondents predict that the price of Bitcoin will be between $30,000 and $60,000 during the April 2024 halving. Specifically, 30% of participants believe the price will break the $60,000 barrier.

local perspective

The study highlights regional differences in sentiment towards Bitcoin halving.

• Latin America, East Asia, and Southeast Asia showed particularly high levels of optimism, with 84%, 82%, and 81% of investors respectively expecting a significant impact from the halving.
• Emerging economies in the Middle East and North Africa (MENA) are also expressing significant interest, with around 80% sharing the view that there will be a significant knock-on effect.
• In contrast, Western and Eastern Europe appear more cautious, with 71% and 73% respectively expressing belief in a significant backlash effect.

Predict the next bull market

Despite the majority of investors expecting the Bitcoin price to remain below $60,000 during the halving, a whopping 84% of participants expect BTC to surpass the previous bull market’s all-time high of $69,000. This optimism is widespread, with almost every region expressing confidence in this optimistic outcome.

When it comes to predictions for the next bull market, 55% of global investors expect the Bitcoin price to fluctuate between $50,000 and $100,000, while 8% believe the price will exceed $150,000.

It is interesting to note that Western Europe, which has shown relative caution about the impact of Bitcoin halving, is more optimistic about the next high price. 41% predicted the price would exceed $100,000. This suggests there is a nuanced sentiment among Western European investors, which suggests they may be “cautious in the short term and optimistic in the long term.”

Investment intention in 2024

Looking ahead to 2024, approximately 70% of investors plan to increase their cryptocurrency investments, according to Bitget research. In particular, a higher proportion of MENA and Eastern Europe indicates a stronger tendency to increase investment.

On the other hand, Southeast Asian and East Asian investors appear to prefer maintaining their current investment positions.

Bitget research provides a vivid look at cryptocurrency market sentiment and expectations ahead of the Bitcoin halving in April 2024. It highlights both optimism and caution among investors in different regions and highlights the various factors that influence investment decisions in a dynamic world. Cryptocurrency.

Read more: Bitcoin Halving in 2024: Will It Trigger the Next Bull Market?