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Bitget Releases MENA Investor Stats On Imminent Bitcoin Halving

The crypto exchange has conducted a study revealing MENA investors’ bullish sentiment on BTC, with 82% planning increased 2024 investments.

Published

11 months ago

on

bitget releases mena investor stats on imminent bitcoin halving

Renowned cryptocurrency exchange and Web3 company Bitget has published an extensive study examining the imminent Bitcoin halving set for April 2024 and its potential impact on investment strategies.

The global investigation included the MENA region and revealed how investors felt about the upcoming Bitcoin halving event and the alterations they plan on making to their investment strategies.

Key Findings From The Bitget Study:

  • 80% of MENA investors anticipate that the halving will substantially influence Bitcoin’s price, with 54% envisioning Bitcoin’s value fluctuating between the $30,000 to $60,000 range at the time of the halving.
  • 88% of MENA participants think BTC will surpass its all-time high during the upcoming bull run.
  • 82% of crypto investors residing in MENA countries intend to augment their investments in 2024, with merely 4% planning a reduction in crypto holdings.

The data suggests a sense of optimism among MENA investors, both in the short-term and long-term prospects of Bitcoin. Notably, MENA crypto enthusiasm outshines that of European investors, with only Latin American crypto enthusiasts being more bullish.

Turning attention to the post-halving era, MENA investors strongly agree that BTC will outperform its previous all-time high during the impending bull run. Despite resounding optimism, only 26% of MENA investors believe the cryptocurrency will reach the $100,000 mark within the current year.

Gracy Chen, Bitget’s Managing Director, commented: “The Bitget Study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market”.

Also Read: 3 Best Cold Storage Wallets For Crypto

Interestingly, investors in Eastern Asia, Western Europe, and Latin America display higher optimism about Bitcoin’s potential to reach the $100,000 to $150,000 range compared to their MENA counterparts. Nonetheless, a notable 11% of MENA investors remain even more optimistic, anticipating Bitcoin’s value to surge beyond the $150,000 threshold.

The study also unveils intriguing trends in investment plans for the year 2024. A substantial 82% of surveyed MENA investors intend to amplify their cryptocurrency investments this year, a figure that surpasses the global average of 70%.

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UAE Prepares To Launch Two Satellites: Thuraya-2 And MBZ-SAT

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired the first meeting of the Supreme Space Council yesterday.

Published

5 days ago

on

December 17, 2024

By

uae prepares to launch two satellites thuraya-2 and mbz-sat

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, chaired the first meeting of the Supreme Space Council in Dubai on December 16, 2024. The session highlighted the UAE’s ambitious space plans and took stock of the sector’s economic progress.

The council emphasized the growing role of private companies in advancing space technologies, noting that their contributions are now equal to that of the public sector. Members also praised initiatives like the Space Economic Zones Programme, which are designed to fuel innovation and investment in the space industry.

Discussing the UAE’s space journey, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum remarked, “The national space sector continues to grow and advance, and we take immense pride in the remarkable achievements we have accomplished over the years”.

Sheikh Hamdan also received updates on two upcoming satellite projects: Thuraya-2 and MBZ-SAT. Thuraya-2, developed by Space42, is slated for launch this December. Meanwhile, the MBZ-SAT, created by the Mohammed Bin Rashid Space Centre (MBRSC), will soon follow. MBRSC, a major driver of the UAE National Space Programme, continues to lead the nation’s space-related developments.

Space42 took the opportunity to showcase its advancements, including ongoing collaborations between public and private entities. The company also outlined strategies to promote innovation, boost revenue streams, and create new opportunities for growth in the sector.

Also Read: IBM Opens New Doha Office To Support Qatar’s Digital Growth

The UAE’s current projects build on a growing legacy of space exploration. Back in 2020, the nation made headlines with its Mars mission, successfully sending a probe into the planet’s orbit in 2021. This mission, which is now in its second phase as of June 2024, has been collecting critical data to develop a comprehensive diurnal image of Mars.

The UAE also ventured into lunar exploration with an unmanned mission aimed at studying untouched regions of the Moon’s surface. While the probe ultimately crashed during its landing attempt after communication was lost seconds before touchdown, the effort represented a significant step in the country’s exploration ambitions.

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