By Michael Scott
A market research involving almost 1000 cryptocurrency investors shows that most envisage new all-time highs for Bitcoin after the halving prediction in April this year.
A market survey involving almost 10,000 cryptocurrency investors shows that the imminent Bitcoin halving is evoking confidence in new all-time highs for Bitcoin. The survey’s findings concentrated on investors’ views and expectations of Bitcoin’s forthcoming mining reward halving by Bitget, a cryptocurrency exchange. It indicates investor optimism regarding the highly-awaited event.
Community Bullish on Post-Halving Momentum
Findings shared with a digital media resource highlight the study’s critical findings and methodology, which sought to consider an illustrative sample of investors globally. Further, this study considered numerous demographics, with participants from different regions, including South and East Asia, Eastern and Western Europe, Latin America, and the Middle East and North Africa (MENA).
Nine thousand seven hundred forty-eight persons took part in the study between November and December last year, and data was anonymized for evaluation. 84% anticipate Bitcoin to exceed the 2021 bull market all-time high of $69,000. Participants from East Europe were the least optimistic, with 75% believing that Bitcoin would exceed its earlier record.
Investors from Western European nations expressed the highest optimism level concerning the forthcoming price top for Bitcoin. In this case, 41% of the study’s participants anticipate Bitcoin to exceed the $100,000 mark.
Regional Investors Cautious on Bitcoin Halving
Nevertheless, the report reveals that the region’s investors were less hopeful about the effect of the Bitcoin halving on the cryptocurrency’s price. It might show how investors are ‘short-term careful and long-term bullish’ since some believe the halving will not impact the new bull market.
In the meantime, participants from East Asia, South East Asia, and Latin America expressed the highest level of optimism regarding the Bitcoin halving considerably affecting Bitcoin’s price. 82%, 81%, and 80% of respondents envisage a considerable effect of the halving.
In a January 30 interview with a digital media resource, Paul Sztorc, a Bitcoin supporter, gave a contradictory perspective regarding the effect of the Bitcoin halving. He noted it would specifically be a litmus test for the mining sector amid a drop in rewards while mining struggles and the hash rate keeps attaining new highs.
According to Sztorc, the initial effect on price may not be as noticeable as forecasted by a few commentators. In an interview in December last year, Adam Back, a cryptographer and Bitcoin supporter, told a digital media resource that the next Bitcoin peak might happen one and a half years following the next halving.
Numerous major mining firms provided profound predictions regarding the halving’s effect on their activities. They also touched on the importance of high efficiency in retaining profitability.