Market Survey Signals Bull Run: Investors Predict Bitcoin To Surpass $69,000 Post Halving
A recent survey conducted by Bitget has revealed that investors are optimistic about the upcoming Bitcoin (BTC) halving event scheduled for April 2024. The survey indicates that a majority of respondents anticipate Bitcoin surpassing its all-time high (ATH) of $69,000 during the next bull run.
The study also provides insights into diverse predictions for Bitcoin’s price during the halving and investment intentions across different regions.
Bullish sentiment is soaring, with an overwhelming 84% of respondents globally predicting that Bitcoin will exceed its previous ATH in the next bull run. This sentiment is particularly strong in Latin America, East Asia, and South East Asia. However, European regions exhibit more conservative expectations.
The survey reveals a range of predictions for Bitcoin’s price during the halving. While more than half of the respondents anticipate a price range between $30,000 and $60,000, around 30% believe that BTC’s price will surpass $60,000. The optimism is especially pronounced in markets like Latin America.
Furthermore, approximately 70% of respondents expressed plans to increase their crypto investments, indicating robust confidence in the potential of the crypto market.
The study highlights regional variations in sentiment and expectations. Western European investors exhibit a “short-term cautious, long-term optimistic” sentiment, while Western Europe shows a relatively conservative outlook during the halving period.
Gracy Chen, Managing Director of Bitget, emphasizes the importance of these survey results in understanding the evolving landscape of cryptocurrency investment, stating that they believe in Bitcoin’s potential as a global store of value.
Renowned crypto analyst Rekt Capital has also analyzed the historical patterns surrounding Bitcoin halving events, revealing the typically occurring five phases. These phases include the pre-halving period, pre-halving rally, pre-halving retrace, re-accumulation, and parabolic uptrend.
Overall, the market survey signals positive investor sentiment and predicts a bullish run for Bitcoin, with expectations of surpassing the previous ATH post halving.
Disclaimer: The article is provided for educational purposes only and does not represent the opinions of NewsBTC. It is always advised to conduct thorough research before making any investment decisions.