Weekly South Korea Crypto Market Outlook : The fourth week of June 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 June 26th to June 28th.
According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 33.9% of respondents (compared to 31.7% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 38.6% (compared to 38.6% last week), while the percentage of respondents anticipating a fall or sharp drop was 27.6% (compared to 29.8% last week).
For Ethereum, it showed a similar trend to Bitcoin. 38.6% of respondents (compared to 36.3% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 35.6% (compared to 35.8% last week), while those anticipating a fall or sharp drop remained at 25.9% (compared to 28.0% last week).
When asked about market sentiment, 25.8%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 48.3%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 26.0%.
In response to questions about coins they recently sold or plan to sell 19.7% of respondents answered Bitcoin, followed by 18.1% for Ethereum.
Additionally, 11.3% mentioned XRP, 5.9% Dogecoin, 2.1% MiL.k, 2.0% Solana, 1.6% Ethereum Classic, 1.4% TRON, and 1.3% Polygon.
Furthermore, a total of 36.4% provided various other opinions. These included cryptocurrencies such as Shiba Inu, AhaToken, Blast, Metadium, Cardano, Wemix, World coin, BitTorrent, Klaytn, and others. 10.3% of respondents stated they had no intention to sell.
In response to questions about coins they recently sold or plan to buy 22.1% of respondents answered Bitcoin, followed by 17.4% for Ethereum.
Additionally, 12.0% mentioned XRP, 5.8% Dogecoin, 2.2% Solana , 2.1% MiL.k , 1.6% Shiba Inu, 1.6% Polygon , and 1.4% TRON.
Furthermore, a total of 33.8% provided various other opinions. These included cryptocurrencies such as Ethereum Classic, CORE, Metadium, BitTorrent, Klaytn, PEPE, Worldcoin, Cardano, Ondo Finance, and others. 10.8% of respondents stated they had no intention to buy.
As a response to a survey asking ‘This week, the price of Bitcoin has fallen below the $60,000 mark for the first time since May 3rd. What do you think is the most crucial indicator for a rebound?’, 25.4% answered ‘The resolution of the $9 billion BTC creditor repayment issue with Mt. Gox’. Those who answered ‘The easing of miner selling pressure’ were 17.2%. 24.1% of respondents answered ‘An increase in stablecoin inflows and a reduction in U.S. BTC ETF outflows’. 26.8% of respondents answered ‘The start of interest rate cuts by the Federal Reserve’. 6.6% of respondents answered ‘Donald Trump’s election victory in the November U.S. presidential election’.
