Weekly South Korea Crypto Market Outlook : The fourth week of August 2024
Cratos and CoinNess conduct regular weekly surveys.
Regular surveys are conducted every week within the Cratos app, and the number of survey participants is 2,000.
This particular survey was conducted from August 19th to August 23rd.
According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 37.0% of respondents (compared to 38.8% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 45.7% (compared to 43.5% last week), while the percentage of respondents anticipating a fall or sharp drop was 17.4% (compared to 17.8% last week).
For Ethereum, it showed a similar trend to Bitcoin. 43.4% of respondents (compared to 43.3% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 40.7% (compared to 39.0% last week), while those anticipating a fall or sharp drop remained at 16.0% (compared to 17.8% last week).
When asked about market sentiment, 27.5%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 43.2%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 29.3%.
In response to questions about coins they recently sold or plan to sell 19.0% of respondents answered Bitcoin, followed by 18.2% for Ethereum.
Additionally, 12.9% mentioned XRP, 5.6% Dogecoin, 2.7% Solana, 1.5% AhaToken, 1.4% TRON, 1.3% Polygon, and 1.1% MiL.k.
Furthermore, a total of 36.3% provided various other opinions. These included cryptocurrencies such as Shiba Inu, BitTorrent, Klaytn, The Sandbox, World coin, Paycoin, Ethereum Classic, Metadium, Core, and others. 13.3% of respondents stated they had no intention to sell.
In response to questions about coins they recently sold or plan to buy 22.5% of respondents answered Bitcoin, followed by 18.1% for Ethereum.
Additionally, 13.4% mentioned XRP, 4.5% Dogecoin, 3.0% Solana , 1.2% AhaToken, 1.2% Polygon, 1.1% MiL.k, and 1.1% MiL.k.
Furthermore, a total of 36.3% provided various other opinions. These included cryptocurrencies such as Ethereum Classic, TRON, PEPE, Cardano, Ondo Finance, CORE, Worldcoin, BitTorrent, Klaytn, and others. 12.2% of respondents stated they had no intention to buy.
As a response to a survey asking ‘The likely September interest rate cut by the U.S. Federal Reserve: What should be your cryptocurrency investment strategy if rates are lowered?’, 31.5% answered ‘Aggressive buying’. Those who answered ‘Maintaining current positions’ were 57.2%. 11.4% of respondents answered ‘Cashing out’.
Related links:
Telegram https://t.me/CratosOfficial
Twitter https://twitter.com/cratostoken
Website https://www.cratostoken.com/
CoinMarketCap https://coinmarketcap.com/currencies/cratos/
Cratos Global https://cratosglobal.page.link/medium
