- A majority of investors want to invest in Bitcoin NFTs over their Ethereum counterparts.
- Ethereum is expected to hike in the next few weeks, thanks to exchange outflows.
As an experienced analyst, I have closely followed the crypto market for several years. Based on my observations and the data presented in the AMBCrypto survey and report, here’s my take:
On May 23rd, the crypto market was excited to learn of the approval for Spot Ethereum Exchange-Traded Funds (ETFs). Many investors were hopeful that this development would lead to a brief price surge. However, contrary to expectations, Ether’s price dropped by approximately 4% within a day, and Bitcoin followed suit.
As a researcher studying the cryptocurrency market, I’ve noticed that there’s ongoing debate among analysts regarding Bitcoin’s future price movements. Some predict a significant correction is imminent, while others believe we’re on the brink of another bull rally.
According to a recent survey carried out by AMBCrypto, approximately two-thirds (67.3%) of crypto investors anticipate Bitcoin will experience a 80% price increase before the year’s end.
According to our investigation, Bitcoin is gearing up for a significant price surge in the future, as discussed in AMBCrypto’s report from May 2024. The reasons behind this anticipated bull run include:
Surprising findings from AMBCrypto’s survey
To get a clear understanding of the current market attitude towards cryptocurrencies, we contacted over 550 crypto enthusiasts from various regions around the world. The results of our study revealed an increasing fascination among investors towards memecoins, as opposed to Bitcoin.
Approximately two out of every three respondents indicated a preference for memecoins over Bitcoin when building their investment portfolios.
To our astonishment, nearly six in ten market players expressed their intention to invest in Bitcoin NFTs rather than Ethereum NFTs. This revelation underscores the increasing interest in Bitcoin’s layer 2 solutions.
As a dedicated researcher delving into the intricacies of the cryptocurrency market, I am thrilled to share that the latest AMBCrypto Crypto Market Report – May 2024 edition offers an in-depth exploration of our recent survey findings. Brace yourselves for a wealth of exclusive insights specifically tailored for traders and investors alike!
Layer 3 dominates conversations in May
As a crypto investor, I’ve noticed that according to AMBCrypto’s analysis, the Layer 3 narrative has been gaining momentum at an impressive pace over the past month. With its promising potential, I believe it could significantly expand its market presence in the upcoming months.
The study revealed that the usage of this in the Eastern region has been substantial, outpacing the Western region. This disparity can be attributed to the fact that nations such as the United States and the United Kingdom are heavily invested in exploring applications for Layer 2 solutions at present. Consequently, there exists a significant potential for expansion in the realm of Layer 3 initiatives.
As a researcher studying the potential impact of increasing Layer 3 adoption on various blockchains, I believe that Ethereum stands to gain the most significant benefits if this trend continues. According to AMBCrypto’s May report, there are several compelling reasons behind this prediction.
With regard to Ethereum, there has been a substantial decrease in the amount flowing into exchanges following May 21st. As a result, it’s reasonable to anticipate a rise in its price.
Take a look at AMBCrypto’s Report – May 2024 Edition
In this report, we uncover the most dynamic trends in the crypto world, featuring unexpected statistics and unique perspectives. We delve deep into significant subjects such as:
- Bitcoin’s June Outlook and what to expect going forward
- The rising influence of Layer 3, and how it can change the Web 3 landscape
- The dominance of SocialFi projects and why are they trending
- A look at leading altcoins and what their future trajectory could look like
- Ethereum’s weakening correlation with the king coin
- NFT market’s falling volume – Is there any chance of revival?
You can also download the full report here.
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2024-05-31 16:39