 ▲ Bitcoin market plunges sharply © |
Five out of 10 domestic cryptocurrency investors predicted that the Bitcoin (BTC) market will show weakness this week (February 23–27).
According to a weekly survey on domestic investor market trends jointly conducted by Coinness and Cratos, 15.5% of respondents (18.3% the previous week) forecast that Bitcoin would rise or surge this week. Meanwhile, 31.7% (28.7% the previous week) expected sideways movement, and 52.8% (53.1% the previous week) anticipated a decline or sharp drop.
Although optimistic outlooks declined further, the proportion of respondents expecting sideways movement increased noticeably. In response to a question about market sentiment, the largest share, 57.4%, said they felt fear or extreme fear. Those who answered neutral accounted for 28.6%, while only 14.2% expressed optimism or extreme optimism.
When asked about the bottom of Bitcoin’s current decline, the largest portion, 33.6%, responded that “prices in the $50,000 range may be seen once more.” This was followed by 30.1% predicting $60,000, 21.2% expecting below $50,000, and 15.1% forecasting $65,000.
The survey included 2,000 respondents and was conducted from February 19 to 20. The margin of error is ±3.0% with a 95% confidence level. The survey was conducted by Pharos Labs.
Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from reliance on it. The content should be interpreted for informational purposes only.