Weekly South Korea Crypto Market Outlook : The fourth week of May 2024

Cratostoken

4 min readMay 24, 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 May 21st to May 24th.

According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 57.0% of respondents (compared to 36.7% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 31.0% (compared to 42.6% last week), while the percentage of respondents anticipating a fall or sharp drop was 12.0% (compared to 20.7% last week).

For Ethereum, it showed a similar trend to Bitcoin. 61.8% of respondents (compared to 40.3% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 28.3% (compared to 40.3% last week), while those anticipating a fall or sharp drop remained at 9.9% (compared to 19.4% last week).

When asked about market sentiment, 44.8%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 44.1%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 11.1%.

In response to questions about coins they recently sold or plan to sell, 18.8% of respondents answered Ethereum, followed by 18.7% for Bitcoin.
Additionally, 11.6% mentioned Ripple, 6.8% Dogecoin, 3.1% Solana, 1.9% Shiba Inu, 1.6% TRON, 1.4% Polygon, and 1.3% Ethereum Classic.
Furthermore, a total of 34.8% provided various other opinions. These included cryptocurrencies such as AhaToken, MiL.k, Worldcoin, Metadium, Cardano, Klaytn, The Sandbox, Wemix, BitTorrent, and others. 9.7% of respondents stated they had no intention to sell.

In response to questions about coins they recently bought or plan to buy, 21.8% of respondents answered Ethereum, followed by 19.8% for Bitcoin.
Additionally, 12.4% mentioned Ripple, 6.0% Dogecoin, 2.9% Solana, 1.9% Shiba Inu, 1.6% Polygon, 1.3% TRON, and 1.3% Ethereum Classic.
Furthermore, a total of 31.0% provided various other opinions. These included cryptocurrencies such as MiL.k, Worldcoin, AhaToken, Cardano, Klaytn, Metadium, Pepe, BitTorrent, Paycoin, and others. 8.4% of respondents stated they had no intention to buy.

As a response to a survey asking ‘If a spot Ethereum ETF is approved, which spot ETF is expected to be approved next?’, 12.1% answered ‘BNB’. Those who answered ‘Solana’ were 35.6%. 41.3% of respondents answered ‘Ripple’. 7.3% of respondents answered ‘Dogecoin’.

Weekly South Korea Crypto Market Outlook : The fourth week of May 2024

Written by Cratostoken

No responses yet