A recent survey of Korean cryptocurrency investors indicates a shift in market sentiment away from Bitcoin towards altcoins. Confidence in potential growth is increasing following a recovery from recent volatility.
Shift in Bitcoin Market Sentiment
According to the survey of 2,000 respondents, 33% expect Bitcoin prices to surge this week. More than 35% believe the market will remain steady, while approximately 31% predict a decline in prices.
Expectations for Altcoins
Despite current struggles with altcoin prices, 36% of participants hope for a potential rebound in the coming months. 22% believe that the altcoin season will begin in Q4, while 16.7% predict it will start this quarter. However, 13.3% do not expect a bull run this year, and 11.3% think that the altcoin season is already over. 46% of investors report feeling fear or extreme fear.
Analysts' Outlook for the Crypto Market
Crypto analyst Altcoin Gordon has expressed a bullish outlook for the market. He noted that various indicators point towards a possible bull market with the onset of the altcoin season. Currently, the altcoin season index stands at just 16, indicating Bitcoin's continued dominance in the market. Bitcoin is currently trading at $88,054, up 3% over the past week.
The situation in the crypto market remains uncertain, yet growing optimism among investors and positive forecasts from analysts create opportunities for significant demand for altcoins in the future.
