Weekly South Korea Crypto Market Outlook : The third week of June 2024

Weekly South Korea Crypto Market Outlook : The third 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 17th to June 21st.

According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 31.7% of respondents (compared to 43.9% 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 38.7% last week), while the percentage of respondents anticipating a fall or sharp drop was 29.8% (compared to 17.5% last week).

For Ethereum, it showed a similar trend to Bitcoin. 36.3% of respondents (compared to 46.3% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 35.8% (compared to 36.6% last week), while those anticipating a fall or sharp drop remained at 28.0% (compared to 17.2% last week).

When asked about market sentiment, 27.3%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 47.1%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 25.6%.

In response to questions about coins they recently sold or plan to sell 18.9% of respondents answered Bitcoin, followed by 18.3% for Ethereum.
Additionally, 12.2% mentioned XRP, 6.1% Dogecoin, 2.5% Solana, 2.0% Shiba Inu, 1.9% MiL.k, 1.8% TRON, and 1.5% AhaToken.
Furthermore, a total of 34.7% provided various other opinions. These included cryptocurrencies such as Polygon, Ethereum Classic, Worldcoin, The Sandbox, Metadium, Klaytn, BitTorrent, Cardano, Waves, and others. 7.8% of respondents stated they had no intention to sell.

In response to questions about coins they recently sold or plan to buy 24.0% of respondents answered Bitcoin, followed by 18.2% for Ethereum.
Additionally, 13.5% mentioned XRP, 5.2% Dogecoin, 2.8% Solana , 1.8% MiL.k , 1.7% Shiba Inu, 1.5% Polygon , and 1.4% TRON .
Furthermore, a total of 29.9% provided various other opinions. These included cryptocurrencies such as Ethereum Classic, AhaToken , BitTorrent , cardano, Worldcoin , Pepe , Core , Stacks , Klaytn , and others. 6.6% of respondents stated they had no intention to buy.

As a response to a survey asking ‘The South Korean government is reported to begin a review in July to determine whether to maintain the listings of over 600 virtual assets currently traded on domestic exchanges. What do you think about this?’, 30.6% answered ‘It is an appropriate measure for investor protection.’. Those who answered ‘This should be put on hold.’ were 65.4%. 4.0% of respondents answered ‘I’m not interested.’.