Here Is Why Bitcoin Might Likely Hit $100,000 Soon

From late February to late March, Currency.com conducted a survey among its users to find out their opinion on Bitcoin, which is up around 1,500% from where it was a year ago.

The crypto exchange asked 1,572 respondents about their engagement, perspective, and prospects for digital assets. The crypto asset platform revealed that about 20% of customers expect the price of Bitcoin to reach at least $ 100,000 or more in the next 12 months. 54% of the respondents predict that the price of the world’s most popular cryptocurrency will be between $50,000 and $100,000 over the same period.

The survey also found that 2% of customers said they had already hidden $1 million or more in Bitcoin. However, almost 27.2% were skeptical of their ability to achieve this goal.

The 12-month BTC price prediction has been distributed more evenly, although the majority of respondents see prices above $50,000.

Specifically, 40% not only hold Bitcoin in their wallet, which makes up around 50% of the total crypto market, but also altcoins.

When asked if the company thinks the price prediction is correct, Vitaly Kedyk, chief strategy officer at Currency.com 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 enthusiasts are already saying that the largest cryptocurrency has moved from the fringes of retail speculation to acceptance by major investors. The total market cap of cryptocurrencies exceeds $2 trillion, largely due to growing institutional demand. Bitcoin’s market cap is more than half that number and is now worth more than $1 trillion.

That being said, a significant number of its users diversify their holdings in the exchange beyond investing in crypto in traditional financial assets such as stocks, indices, and commodities with a token that reflects the market value of each asset.