DeFi
67% of crypto users think Bitcoin will rise 80% by the end of 2024: report
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The year 2024 has been a positive year for cryptocurrencies, including Bitcoin and Ethereum. At press time, the price of BTC stood at $69,278 while ETH stood at $3,813.30.
In January, the U.S. Securities and Exchange Commission gave the green light to spot BTC exchange-traded funds (ETFs), and in May we saw them approve the sale of spot ETH ETFs. Experts are mobilizing in particular for Bitcoin to reach 100,000 USD by the end of the year.
According to a survey conducted by AMB Cryptocurrency Based on 557 people, including crypto analysts, traders, investors, and experts, 67.3% of respondents believe that the price of BTC will see an increase of over 80% by the end of the year.
More than 50% of respondents said they prefer memecoins over Bitcoin; while more than 50% of market participants want to invest in Bitcoin NFTs rather than Ethereum NFTs.
Among crypto investors, around 36.8% have invested in memecoins; 25.5% in AI tokens, 21% in DeFi tokens, and 15.4% in gaming tokens. Despite these options, a majority of 65.5% chose to invest in Bitcoin.
Between December 31, 2020 and May 7, 2024, gold appreciated by approximately 22.32 percent, while BTC appreciated by 119.64 percent during the same period. While investors remain divided on whether or not Bitcoin will replace gold as a store of value; nearly 50 percent think it will eventually take over, but it will take time. 1/3 think it is already replacing gold, while 18.9 percent think it will never replace gold.
More than a third of respondents prioritized low fees (expense ratios), while 25.5% of respondents said they do not invest in Bitcoin ETFs at all. Asia had the highest representation at 30.9 percent, followed by Africa (23.5 percent), North America (19.7 percent) and Europe (18.9 percent). hundred).
The report reveals that addresses with non-zero balances have reached an all-time high. These addresses are single holders with a significant amount of BTC in their wallets.
According to the report, BTC’s long-term network adoption is at its highest level in history and will result in higher prices in the coming months.
However, it is worth emphasizing that the short-term outlook for BTC is not pleasant.