Weekly South Korea Crypto Market Outlook : The second week of May 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 8th to May 10th.

According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 33.6% of respondents (compared to 32.5% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 40.9% (compared to 37.5% last week), while the percentage of respondents anticipating a fall or sharp drop was 25.5% (compared to 30.0% last week).

For Ethereum, it showed a similar trend to Bitcoin. 36.9% of respondents (compared to 35.5% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 40.9% (compared to 35.5% last week), while those anticipating a fall or sharp drop remained at 22.2% (compared to 29.0% last week).

When asked about market sentiment, 26.8%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 52.9%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 20.2%.

In response to questions about coins they recently sold or plan to sell, 21.1% of respondents answered Ethereum, followed by 17.0% for Bitcoin.
Additionally, 11.3% mentioned Ripple, 6.0% Dogecoin, 1.8% Solana, 1.6% TRON, 1.4% Polygon, 1.4% AhaToken, and 1.4% Ethereum Classic.
Furthermore, a total of 37.2% provided various other opinions. These included cryptocurrencies such as Shiba Inu, MiL.k, Paycoin, Metadium, Worldcoin, Klaytn, Wemix, Cardano, BitTorrent, and others. 13.5% of respondents stated they had no intention to sell.

In response to questions about coins they recently bought or plan to buy, 20.8% of respondents answered Ethereum, followed by 20.0% for Bitcoin.
Additionally, 11.9% mentioned Ripple, 5.2% Dogecoin, 2.2% Solana, 1.5% Shiba Inu, 1.4% Polygon, 1.4% Ethereum Classic, and 1.3% MiL.k.
Furthermore, a total of 34.3% provided various other opinions. These included cryptocurrencies such as TRON, Worldcoin, AhaToken, Cardano, BitTorrent, Paycoin, Core, Klaytn, Metadium, and others. 12.7% of respondents stated they had no intention to buy.

As a response to a survey asking about cryptocurrencies anticipated to be in the spotlight after the 2024 BTC halving, the highest number of respondents, 27.0%, answered ‘Only Bitcoin’. Those who answered ‘Ethereum’ were 46.7%. 19.7% of respondents answered ‘Solana’. 6.6% of respondents answered ‘Toncoin’.