Cryptocurrency News, Cryptocurrency Price Analysis

New Survey Shows Investors Are Bullish On BTC Despite Recent Crypto Crash

A recent survey uncovers that investors continue to be confident in cryptocurrency even with the market crash that had occurred recently. Bitcoin, along with other cryptocurrencies, experienced one of the vilest market crashes in history. Nonetheless, investors are surprisingly even more optimistic than ever about what the future holds for BTC and other altcoins in the market.

This was discovered through the outcome of a Quarter 2 retail survey held by the crypto organization called Voyager Digital, which surveyed 3,671 merchants of high recurrence. The results of the survey uncovered that 81 percent of crypto holders are increasingly bullish about the future potential of altcoin, even after the severe market crash that occurred in the last couple of months. The crash caused a loss of more than half of their worth.

Most of the coins have recuperated considerably, but uncertainty still rests in the space. In spite of this, 87 percent of individuals responded that they intend to add to their investment in crypto within the next four months, which is a 7 percent increase from the Q1 survey.

Thirty-nine percent of the survey takers responded that they find it probable for the price of BTC to plummet to somewhere between $56k and $70k towards the closure of Quarter 3 in 2021. Twenty-eight percent expected a price to fall between $41k and $55k. There was 18 percent of people who thought that bitcoin would go higher than $70k, which is 2 percent less than the previous survey.

Remarkably, a ratio of more than 9/10 of the surveyed believes that the SEC would sooner or later approve an exchange-traded fund for BTC. The ETF, as altcoin supporters hope, will boost BTC’s value by opening it up to organizational investment.

When questioned about which altcoins surveyors were most hopeful about, Cardano came to be the most prevalent. Fifty-five percent voted for Cardano more than any other cryptocurrency, followed by Dogecoin, with Chainlink and Polkadot as the successors.

The chief executive officer of Voyager Digital, Steve Ehrlich, stated that it was nice to hear about people’s assurance in cryptocurrency despite the dip. He articulated that according to the survey’s responses, most crypto holders saw the recent crash as an opportunity to buy more coins rather than suffering a loss.

Leave a Reply

Your email address will not be published.