A new survey shows that South Korean crypto investors are leaning more toward Bitcoin over gold despite record-high gold prices.
In a survey conducted by CoinNess and Cratos from April 21st through 25th, 2,000 South Korean crypto investors shared their takes on the gold vs Bitcoin debate. The purpose of the survey was to track weekly market sentiment and compare preferences between Bitcoin and gold.
Despite the record-high gold prices, 45.4% said Bitcoin will deliver better returns in the next six months. The rest of the participants answered as follows: 27.9% chose gold, 22.7% predicted both would grow, and 4% expected declines for both.
Rising Optimism Signals a Shift in Market Mood
When it comes to overall market sentiment, 49.9% felt neutral about the market, 31.5% indicated optimism or extreme optimism, and 18.6% expressed fear or extreme fear. This shows that while many remain cautious or neutral, optimism is growing faster than fear, which is another bullish tilt.
In the other parts of the survey, 46.2% believe Bitcoin’s price will rise or even significantly rise this week, which is an increase from 33% the previous week. Additional results show that 38.9% expect stable prices, a slight increase up from 35.7% last week. Also, 14.9% foresee a decline or sharp drop, notably down from 31.3% in the prior survey.
Looking at the data, it seems that sentiment among South Korean investors is turning more bullish compared to the prior week, suggesting renewed confidence in Bitcoin’s price recovery. At the time of writing, Bitcoin’s price is approximately $94,826, an 8.5% increase in the last seven days.
South Korea’s Crypto Market is Retail Driven
South Korea remains one of the most active crypto markets globally. Trading platforms like Upbit and Bithumb have reported growing volumes, even as regulators tighten oversight on crypto marketing and staking services.
Nevertheless, the country’s younger generation, particularly those in their 20s and 30s, continues to be heavily involved in crypto investing, often preferring Bitcoin and Ethereum over traditional assets like stocks and bonds.
Last week, South Korea’s daily crypto trading surpassed stocks, with the total cryptocurrency market capitalization going over 100 trillion won, which is around $74.8 billion.
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