A recent survey conducted by Bitget has shed light on the optimistic outlook of investors regarding Bitcoin’s upcoming “halving” event scheduled for April 2024.
The survey, which engaged nearly 10,000 crypto investors worldwide, has unveiled some intriguing insights into market sentiment and potential impacts.
According to the findings, a staggering 84% of respondents anticipate Bitcoin surpassing its previous all-time high of $69,000 in the next bull market.
This strong bullish sentiment demonstrates the confidence that investors have in Bitcoin’s potential for substantial growth.
Furthermore, a significant 70% of participants disclosed their plans to increase their cryptocurrency investments in 2024, indicating a collective belief in the long-term viability of digital assets.
Regarding Bitcoin’s expected price after the halving event, 55% of respondents foresee it trading in the range of $50,000 to $100,000, with an additional 30% expecting the price to surpass $60,000 during the halving period in April 2024.
Gracy Chen, the Managing Director at Bitget, commented on the survey results, stating that “The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.”
Chen also expressed satisfaction with the positive sentiment emerging from the survey and the ongoing market recovery, saying, “The road ahead remains bright.”
The Bitcoin halving event, which occurs approximately every four years, involves a reduction in the mining reward received by miners for their efforts in validating transactions and securing the Bitcoin network.
This mechanism is designed to manage supply and mitigate cryptocurrency inflation over time.
Bitget’s research also delved into the influence of gender and age on cryptocurrency investments.
Notably, the study revealed that gender plays a significant role in shaping financial goals, particularly in South Korea and Japan, where a higher percentage of female investors prioritize personal finance management compared to their male counterparts.
Additionally, the report identified distinct age groups among cryptocurrency investors using Bitget’s copy trading feature.
Generation Z users emerged as the largest group, accounting for 44% of the total, highlighting their tech-savviness and susceptibility to social media influence.
Other age groups included individuals aged 25-35 (32%), those in the 35-55 range (17%), and participants over 55 (7%).
Notably, 72% of traders under 25 and 65% of those between 55 and 64 primarily rely on Bitget’s copy trading capabilities, indicating a strong preference for this investment approach across diverse age groups.
Bitget, established in 2018, serves over 20 million users worldwide through its crypto exchange and Web3 solutions.
In 2023, the platform witnessed a substantial 94% increase in spot trading volumes, underlining its growing prominence in the crypto ecosystem.