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The survey was conducted by researcher Pharos Labs (Kratos) and crypto market information provider Coinness – and reported by media outlets coin readers, The firms said they spoke to 2,000 people last week to gauge their opinion on the crypto market – 45% predicted a BTC price rise.
While around 7% predicted a “sudden jump” in prices, not all were as optimistic: 2% thought a “sudden sharp decline” was in the cards.
And nearly 14% said they were either “fearful” or “extremely fearful” about the markets in the coming week. But about a third expressed “optimism” or under “extreme optimism” for the week beginning March 6.
What Cryptocurrencies Are South Koreans Expecting in the Coming Week?
However, the answers were nearly identical when the same participants were asked to identify which tokens would be worth buying in the coming week.
Participants were also informed about crypto exchange binancewhich is still Hotly tipped to enter South Korean market by acquiring Gopax exchange, Such a move would give it an operating license and access to the lucrative KRW market.
When asked about the potential impact of Binance’s “entry into South Korea”, 37% said the firm would “surpass” domestic players such as Upbit and Bithumb – and “become the number one exchange in South Korea.”
But more than half said it would only grow to the same level as Upbit and Bithumb. Meanwhile, one in ten said it would only grow to medium size.
And the remaining 2% said they expected to “return” to South Korea after “a short period of time”.