San Francisco-based Kraken exchange conducted a poll about the reaction of 400 VIP traders. Despite the current economic environment, survey participants showed that they still believe that cryptocurrencies are in a bull market. Furthermore, Kraken survey respondents said that the price of BTC will reach an all-time high of $ 22,866 per coin.
BTC price will reach $ 22K by 2020
On March 27, Kraken was publish a survey called "2020 Sentiment Survey: Where We Are & What’s To Come". (Sentimental Survey 2020: Where we are now and what is to come). The survey was conducted with 400 VIP traders and 41% said they were investors, 40% noted that they were traders and 15% said they were organizations. A small percentage of respondents are payment companies, cryptocurrency exchanges and miners.
Kraken Intelligence, our in-house research team, surveyed 400 customers from around the world this January to gauge their sentiments and expectations for cryptocurrencies by 2020., Kraken explained to VIP customers.
According to the report, 44% of participants thought that cryptocurrencies were still in the middle of a bull market. Nearly 34% of those surveyed said they were uncertain about the present time. Moreover, 22% of survey participants think that the crypto economy is facing the bear market right now.
Interestingly, the surveyed individuals and organizations envisioned BTC reaching new all-time highs (ATH) by 2020. Survey notes show respondents predicting BTC prices will soar to 22,866. dollars per dollar at some time of the year. VIP traders also predict that ETH's price will reach $ 810, but Ether will not exceed its own ATH by 2020.
Although uncertain about the timing, the cryptocurrency industry remains optimistic
Respondents also pointed out that some of them manage huge amounts of money because 84% of participants said they managed less than $ 10 million. But 11% of the individuals surveyed revealed that they managed about $ 10 million and $ 50 million according to Kraken statistics.
400 people surveyed Kraken predict Bitcoin price will exceed $ 22K by 2020
6% said they managed funds from 50 million to 100 million dollars. Nearly 50% of respondents predict that the US SEC will approve a bitcoin ETF fund this year, Kraken's blog post emphasized. Tether (USDT) is the overwhelming favorite stablecoin (60.4%). Additional Kraken reports:
Despite these uncertain times, it is clear from the survey that the cryptocurrency industry still has much progress and catalysts to be optimistic.
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