A recent survey among South Korean cryptocurrency investors revealed significant changes in outlook regarding Bitcoin and altcoins. Below is a summary of the key aspects of the study.
Current Bitcoin Expectations
A survey conducted by Bitcoin World and Cratos between August 18 and 22 indicated that approximately 38.3% of respondents expect Bitcoin’s value to increase or significantly jump this week, down from 53.2% the previous week. 30.2% predict a stable market for Bitcoin, an increase from 24.8% last week, while 31.5% foresee a decline or sharp drop in Bitcoin’s value, up from 22% in the previous week.
Overall Mood Among South Korean Investors
The survey also revealed the overall sentiment among investors. 35.9% expressed optimism or extreme optimism regarding the market. 34.1% chose to remain neutral, while about 30% expressed feelings of fear or extreme fear, indicating caution in uncertain market conditions.
Forecasts for Altcoins
Discussing 'altcoin season', 38.5% of respondents expect gains limited to select tokens with strong utility or those linked to ETFs. 28.5% believe the uptrend will primarily be confined to BTC and ETH, while 20.7% predict a broader altcoin rally. However, 12.3% think that the altcoin rally has already peaked.
The survey has revealed a complex and evolving sentiment landscape among South Korean investors in relation to Bitcoin and altcoins. While some tempering of optimism is apparent, a significant number of investors remain hopeful, indicating market maturation.
