Weekly South Korea Crypto Market Outlook : The second week of July 2024

Cratostoken

4 min readJul 12, 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 July 9th to July 12th.

According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 40.1% of respondents (compared to 40.0% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 40.1% (compared to 41.4% last week), while the percentage of respondents anticipating a fall or sharp drop was 19.9% (compared to 18.7% last week).

For Ethereum, it showed a similar trend to Bitcoin. 45.0% of respondents (compared to 45.1% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 36.3% (compared to 37.4% last week), while those anticipating a fall or sharp drop remained at 18.8% (compared to 17.5% last week).

When asked about market sentiment, 28.3%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 49.6%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 22.2%.

In response to questions about coins they recently sold or plan to sell 18.6% of respondents answered Bitcoin, followed by 17.5% for Ethereum.
Additionally, 11.5% mentioned XRP, 5.9% Dogecoin, 2.4% Solana, 1.8% TRON, 1.7% MiL.k, 1.5% Shiba Inu, and 1.2% AhaToken.
Furthermore, a total of 37.9% provided various other opinions. These included cryptocurrencies such as Polygon, BitTorrent, Ethereum Classic, Klaytn, Metadium, Cardano, Taiko, The Sandbox, Pepe, and others. 13.7% of respondents stated they had no intention to sell.

In response to questions about coins they recently sold or plan to buy 22.4% of respondents answered Bitcoin, followed by 18.0% for Ethereum.
Additionally, 11.8% mentioned XRP, 5.3% Dogecoin, 2.6% Solana , 1.4% MiL.k , 1.3% Polygon, 1.3% Shiba Inu, and 1.0% TRON.
Furthermore, a total of 34.9% provided various other opinions. These included cryptocurrencies such as AhaToken, Worldcoin, BitTorrent, Core, Ethereum Classic, Klaytn, Ondo Finance, Pepe, Cardano, and others. 12.9% of respondents stated they had no intention to buy.

As a response to a survey asking ‘Will the BTC price, which has fallen to $57K this week, continue to drop?’, 26.3% answered ‘It will drop further’. Those who answered ‘It will trade sideways’ were 46.0%. 27.7% of respondents answered ‘It will rebound’.

Weekly South Korea Crypto Market Outlook : The second week of July 2024

Written by Cratostoken

No responses yet