ForkLog readers predict Bitcoin above $50,000 in 2024 — poll results
At year’s end, the ForkLog editors traditionally conduct a poll among the magazine’s readers. As promised, we share the results and discuss readers’ investment portfolios, their forecasts, attitudes to mining, staking, and other segments of the industry.
Reader Portrait
From November 6 to December 11, 2023, 1,158 people participated in the study. The majority of respondents were men aged 36 to 45, living in Russia. Women accounted for only 6.4% of participants.
In Ukraine, 18.3% of readers live there, in CIS countries 11.1%. ForkLog is also read in Georgia, in EU or European countries and Southeast Asia.
Almost half (47.5%) of participants rated their income as middle. The option “above average” was chosen by 24.7%, “low” by 22.6%.
18.3% of readers are involved in blockchain and cryptocurrency businesses, 14.5% plan to start. Almost half of the surveyed audience (48.9%) are employees, 18.4% described themselves as unemployed.
Most readers (31.2%) became acquainted with cryptocurrencies during the 2017–2019 bull market, slightly fewer (23.9%) during the 2014–2016 bear market.
In 2023, 2.8% of respondents learned about digital assets.
As the main source of news, participants chose social networks (47.9%). In second place are Russian-language media (29%).
Portfolio
32.8% of respondents first bought or received cryptocurrency in 2020–2022. Almost a third (31.3%) in 2017–2019, 10% in 2023.
Among the survey participants, 65.3% reported portfolio performance in the year gone by.
The most popular cryptocurrencies remain Bitcoin and Ethereum. The third place was taken by Solana (last year Binance Coin was located there).
Most ForkLog readers use digital assets mainly for long-term investments. More than a third are involved in trading.
Privacy
Most respondents do not use privacy-focused cryptocurrencies (86.2%) or mixers (95.4%) for transactions.
Mining and Staking
Among the survey participants, 10.1% engage in mining, while the majority (66.9%) have never been miners.
In staking, 38.5% participate, nearly as many (38.3%) — no.
NFT
Less than a third (26.7%) of ForkLog readers own NFT. Most (61.3%) do not own non-fungible tokens and do not plan to buy them.
The most popular NFT marketplace remains OpenSea (16%).
DeFi
In 2023, 35.1% of respondents invested in the DeFi sector. Another 29.2% plan to do so in the future.
25.6% of participants who reported investments in the sector chose DeFi tokens. Only 13% engage in yield farming, and 9% earn through lending protocols.
As in the previous year, the most popular DeFi services among readers remained PancakeSwap (19.8%) and Uniswap (20.6%).
Trading
35.7% of respondents trade cryptocurrencies and call it a profitable activity. For 16.8% this is not the case.
Centralised exchanges are chosen by 36.4% of respondents, 15.7% mix types of platforms.
The leading centralised exchange among respondents was Binance (51%). In second and third places were Bybit (31.1%) and OKX (14.6%), respectively.
The vast majority of survey participants (73.5%) do not trade crypto derivatives, another 20.2% prefer futures.
27% of respondents use leverage.
Wallets
The most popular wallets were MetaMask (49.6%) and Trust Wallet (45.6%).
63.4% do not use hardware wallets. Those who prefer cold storage primarily choose Ledger (25.8%).
Hacker Attacks
Only 10.6% of respondents were affected by incidents related to hacker attacks.
Readers’ Forecasts for 2024
According to 38.8% of respondents, Bitcoin’s price will rise above $50,000 in 2024. 28.4% of participants believe the price of the first cryptocurrency will surpass its ATH.
Only 5.4% of readers forecast a drop below $20,000 for digital gold.
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