Weekly South Korea Crypto Market Outlook : The third 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 13th to August 16th.
According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 38.8% of respondents (compared to 44.8% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 43.5% (compared to 41.5% last week), while the percentage of respondents anticipating a fall or sharp drop was 17.8% (compared to 13.8% last week).
For Ethereum, it showed a similar trend to Bitcoin. 43.3% of respondents (compared to 53.2% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 39.0% (compared to 35.0% last week), while those anticipating a fall or sharp drop remained at 17.8% (compared to 11.9% 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 18.9% of respondents answered Bitcoin, followed by 17.0% for Ethereum.
Additionally, 11.9% mentioned XRP, 6.4% Dogecoin, 3.5% Solana, 2.1% AhaToken, 1.8% MiL.k, 1.3% TRON, and 1.2% Polygon.
Furthermore, a total of 35.9% provided various other opinions. These included cryptocurrencies such as Ethereum Classic, Shiba Inu, World coin, BitTorrent, Cardano, The Sandbox, Klaytn, Metadium, Core, and others. 12.3% of respondents stated they had no intention to sell.
In response to questions about coins they recently sold or plan to buy 23.1% of respondents answered Bitcoin, followed by 17.7% for Ethereum.
Additionally, 13.1% mentioned XRP, 4.1% Dogecoin, 2.9% Solana , 2.0% Shiba Inu, 1.6% Polygon, 1.1% Ethereum Classic, and 1.2% Polygon.
Furthermore, a total of 35.9% provided various other opinions. These included cryptocurrencies such as TRON, AhaToken, Klaytn, BitTorrent, CORE, Worldcoin, Cardano, Ondo Finance, Stacks, and others. 11.9% of respondents stated they had no intention to buy.
As a response to a survey asking ‘Last week, the crypto market saw its steepest drop since the FTX crisis, but institutional optimism helped Bitcoin recover, while retail investors deepened the decline. What’s next for BTC?’, 48.9% answered ‘BTC’s price will rise’. Those who answered ‘BTC’s price will fall’ were 29.6%. 21.6% of respondents answered ‘BTC’s price will trend sideways’.
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
