 ▲ Bitcoin (BTC) plunges © |
Six out of ten domestic cryptocurrency investors predicted that the Bitcoin (BTC) market will show a bearish trend this week (March 2–6).
According to a weekly survey jointly conducted by CoinNess and Cratos on domestic investor market trends, 10.3% of respondents (15.5% the previous week) expected Bitcoin to rise or surge this week. Meanwhile, 25.5% (31.7% the previous week) predicted a sideways movement, and 64.2% (52.8% the previous week) forecast a decline or sharp drop.
Bullish expectations declined further, while the number of respondents anticipating downside movement increased. When asked about market sentiment, the largest share, 61.2%, responded that they felt fear or extreme fear. Those who answered neutral accounted for 30.6%, while only 11.2% said they felt optimistic or extremely optimistic.
Amid prevailing opinions across multiple communities and media outlets that “cryptocurrency is over,” 60.9% of respondents stated, “The cryptocurrency market is not over. When there is panic in the market, it is a buying opportunity.” Meanwhile, 22.9% responded, “It’s over. Those who escape coins early are the smartest,” and the remaining 16.2% answered, “Not sure.”
A total of 2,000 respondents participated in this survey, which was conducted from February 24 to 27. 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 incurred based on it. The content should be interpreted for informational purposes only.