The latest forecasts from the crypto exchange Bitget on the study of Bitcoin’s halving reveal an optimistic prediction, with 84% of investors agreeing on the BTC reaching a new all-time high in the next quarter.
Meanwhile, 70% of them plans to increase investments during 2024. Let’s see all the details.
The continuous growth of Bitcoin after the halving: Bitget’s predictions
As anticipated, Bitget, the global leader in the cryptocurrency and Web3 exchange sector, recently conducted an in-depth study focused on the upcoming Bitcoin halving in April 2024.
In particular, focusing on its implications regarding investment decisions.
This survey, based on a global demographic sample, provides an overview of investor mindset in the cryptocurrency sector and their perspectives on the post-halving market.
The survey involved a wide range of participants from regions such as Western Europe, Eastern Europe, Southeast Asia, East Asia, the MENA region, and Latin America, reaching a total of 9,748 individuals.
The methodology included the analysis of anonymized data, focusing on investors’ perceptions regarding the upcoming Bitcoin halving and the expected changes in their investment decisions.
An overview of Bitget’s study results
Below we see the main results of the Bitget study. First of all, it is observed that a remarkable 84% of participants predict that Bitcoin will surpass the historical high of the previous market of $69,000 in the next bullish phase.
In particular, with percentages higher than 80% in many regions, except for Eastern Europe.
At a global level, more than half of the respondents expect that the BTC price during the halving, scheduled for April 2024, will be between $30,000 and $60,000, while 30% predict that the price will exceed $60,000.
In addition, about 70% of the interviewees intend to increase investments in cryptocurrencies, with higher percentages in the MENA regions and Eastern Europe, indicating a greater propensity to increase investments.
The data suggests a sentiment of “short-term caution, long-term optimism” among investors in Western Europe.
Almost 84% of the interviewed investors believe that the halving of Bitcoin will have a positive impact on the cryptocurrency market, pushing Bitcoin beyond its all-time high of $69k.
Specifically, the most positive opinions come from the markets of Latin America, East Asia, and Southeast Asia. European regions, on the other hand, show more conservative expectations.
Beyond the halving period, however, investors maintain a strong belief that Bitcoin will surpass its previous all-time high (ATH) in the next bullish phase.
Even the most cautious regions show a remarkable optimism for the future of cryptocurrency, with a perspective that combines short-term caution and long-term confidence, evident especially in some European markets.
Expectations and investments: Gracy Chen’s words
As for projections on all-time highs (ATH) in the next bullish cycle, the majority (55%) predicts that the price of Bitcoin will stabilize between $50,000 and $100,000.
On the other hand, a significant percentage, albeit more limited, is more optimistic, predicting a peak above $150,000.
This positive outlook is particularly strong in Western Europe, a region that, despite caution during the halving period, sees over 51% of investors predicting that the next ATH will exceed $100,000.
The study also highlights interesting investment trends for 2024. About 70% of participants in the analyzed regions clearly express the intention to increase investments in cryptocurrencies, indicating a strong confidence in the market’s potential.
This trend is particularly strong in regions such as the MENA area and Eastern Europe, where there is a greater propensity to increase investments.
In contrast, Southeast Asia and East Asia show more diversified investment prospects, with a preference for maintaining current investment levels.
Gracy Chen, CEO of Bitget, commented as follows:
“Bitget’s study on the impact of BTC halving provides valuable insights into the evolving landscape of cryptocurrency investments. The results reflect a wide range of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.”
As a leading exchange, Bitget aims to contribute to the growth and development of the Bitcoin ecosystem through innovative product offerings, educational resources, and constant support to the community.