Weekly South Korea Crypto Market Outlook : The fourth week of April 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 April 23rd to April 26th.
According to the regular survey on weekly trends of Korean cryptocurrency investors jointly conducted by CoinNesss and Cratos, 46.1% of respondents (compared to 31.3% last week) forecasted that Bitcoin would rise or rise sharply next week. The percentage of respondents expecting a flat movement was 39.7% (compared to 38.1% last week), while the percentage of respondents anticipating a fall or sharp drop was 14.2% (compared to 30.6% last week).
For Ethereum, it showed a similar trend to Bitcoin. 49.0% of respondents (compared to 35.6% last week) forecasted that Ethereum would rise or rise sharply next week. Those expecting flat movement accounted for 37.5% (compared to 37.5% last week), while those anticipating a fall or sharp drop remained at 13.5% (compared to 26.9% last week).
When asked about market sentiment, 38.2%, responded with optimism or extreme optimism. The proportion of those responding neutrally was recorded at 49.4%. The percentage of people experiencing fear or extreme fear in the current cryptocurrency market is 12.4%.
In response to questions about coins they recently sold or plan to sell, 20.9% of respondents answered Ethereum, followed by 16.9% for Bitcoin.
Additionally, 13.0% mentioned Ripple, 5.7% Dogecoin, 2.7% Solana, 1.9% Shiba Inu, 1.5% AhaToken, 1.5% TRON, and 1.5% MiL.k.
Furthermore, a total of 34.5% provided various other opinions. These included cryptocurrencies such as Klaytn, Ethereum Classic, Wemix, Polygon, Metadium, Worldcoin, BitTorrent, Cardano, The Sandbox, and others. 7.2% of respondents stated they had no intention to sell.
In response to questions about coins they recently bought or plan to buy, 21.5% of respondents answered Ethereum, followed by 20.9% for Bitcoin.
Additionally, 12.5% mentioned Ripple, 5.6% Dogecoin, 2.2% Solana, 1.7% MiL.k, 1.6% Shiba Inu, 1.4% Polygon, and 1.3% Ethereum Classic.
Furthermore, a total of 31.3% provided various other opinions. These included cryptocurrencies such as Wemix, Tron, Klaytn, Core, Paycoin, AhaToken, Worldcoin, BitTorrent, Pepe, and others. 6.2% of respondents stated they had no intention to buy.
As a response to a survey asking about the reason for the delay in approving the Ethereum ETF, 36.5% answered ‘The lack of communication between SEC and ETF issuers’. Those who answered ‘SEC’s investigation into the securities status of ETH’ were 52.4%. And 11.1% answered ‘The lack of demand from financial market participants’.
