Each week, Benzinga conducts a sentiment survey to seek out out what merchants are most enthusiastic about, fascinated by or serious about as they handle and construct their private portfolios.
We just lately surveyed a bunch of over 400 Benzinga traders on future Bitcoin price motion and requested if Bitcoin attain $100,000 by 2025.
60% of respondents stated they consider Bitcoin will attain the $100,000 mark within the subsequent 5 years.
Will Bitcoin Attain $100,000?
Having just lately climbed again to the $18,000 degree, it is no secret the worth of Bitcoin is surging of late. $18,000 is the highest level Bitcoin is buying and selling at in three years, having hit its all-time excessive round $20,000 again in December 2017.
So what do Benzinga readers consider will occur to the worth motion of Bitcoin inside the subsequent 5 years?
One optimistic respondent sees Bitcoin reaching $100,000 by 2025 given “as governments proceed to print cash, together with inflation generally, cryptocurrency ought to naturally go up in value. I consider Bitcoin has the potential to be the subsequent massive funding aside from gold.”
“Particularly with the youthful era fascinated by cryptocurrency and brokerages providing the chance to spend money on Bitcoin, there will likely be extra adults than ever utilizing their Bitcoin as a substitute of financial institution playing cards, bank cards within the not-so-distant future,” the respondent concluded.
One other respondent stated, “Mass retail funding adoption of Bitcoin is going on in 2020 together with institutional investments. Bitcoin’s worth is that there’s a set provide and may be utilized as a hedge in opposition to government-manipulated currencies.”
See Additionally: Is Bitcoin a Good Investment?
As a matter of provide and demand idea, one other participant said “as the amount of an merchandise decreases, and the demand for that merchandise will increase, concurrent with enhanced applicability like Bitcoin could have in retail settings, there appears to be no method that Bitcoin can stay beneath $100,000” by 2025.
In the meantime, 40% of respondents stated Bitcoin won’t attain the $100,000 value by 2025. Amongst these much less desirous to again a constructive development trajectory for Bitcoin, one respondent summarized many readers’ views as to why Bitcoin won’t attain $100,000 within the subsequent 5, in midst of a wave of what many consider is pure hypothesis.
“As of proper now the worth motion with Bitcoin is all hypothesis and inflation. I gained’t say it’s unimaginable Bitcoin will develop to $100,000 however that fee of development appears unprecedented if the economic system stabilized between now and 2025,” the reader stated.
This survey was performed by Benzinga in November 2020 and included the responses of a various inhabitants of adults 18 or older.
Opting into the survey was utterly voluntary, with no incentives supplied to potential respondents. The research displays outcomes from over 400 adults.
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