From late February to the end of March, currency.com conducted a survey among its users to get their take on Bitcoin, which has skyrocketed about 1500% from where it was a year ago.
The Crypto exchange surveyed 1,572 respondents on their exposure, perspective, and outlook of digital assets. The crypto-asset platform revealed that about 20% of its customers expect the price of Bitcoin to hit at least $100,000 or above in the next 12 months. 54% of the respondents predict the price of the world’s most popular cryptocurrency will hover at $50,000-$100,000 in the same period.
The survey also revealed that 2% of customers indicated that they already have $1 million or more stashed in Bitcoin. However, nearly 27.2% were sceptical about whether they can achieve this goal.
The 12-month BTC price forecast was more evenly distributed, though a majority of respondents see prices above $50,000.
Specifically, 40% keep in their portfolio not only Bitcoin, which makes up about 50% of the entire crypto market, but also altcoins.
When asked whether the firm believes the price prediction is accurate, Currency.com’s head of strategy, Vitaly Kedyk, said:
“Over the course of 2020, we have seen interest in crypto gain mainstream attention and validation following take-up by large institutional investors. We expect this trend to continue in 2021 with greater diversification across altcoins.”
Bitcoin believers already say that the biggest cryptocurrency has shifted from the fringes of retail speculation towards embrace by major investors. The total market capitalization of cryptocurrencies tops $2 trillion, mostly spurred by rising institutional demand. Bitcoin’s market cap makes up more than half of that figure and it is now worth more than $1 trillion.
That being said, a significant number of its users are also diversifying their holdings in the exchange beyond investing in crypto, into traditional financial assets like equities, indices, and commodities with a token that mirrors the value of each asset.