A survey was recently conducted by Genesis Mining, which provided rather unexpected results. As per the survey, most of the Bitcoin investors don’t believe that the coin will be able to cross the $50,000 mark until 2030. But, there is a small number of investors, which is approximately 3.5%, who believe that the coin will be bullish and will be able to cross the $500,000 threshold by that time. An institutional mining company, Genesis Mining is located in the British Virgin Islands. A survey was conducted by the platform of 1,000 current and former Bitcoin investors based in the United States. The company then published the findings of the survey for the entire world.
As per the results, almost two-thirds of Bitcoin investors, both former and current, consider Bitcoin to be a better store of value when compared to the US dollar in the long term. The survey indicated that more than half of those who responded are convinced that Bitcoin will not have a problem in beating gold, real estate and the stock markets in the next decade or so. In addition, nearly 65% of the respondents of the survey are of the opinion that Bitcoin will only see its value increase as time goes on. However, there is where things got a little bit interesting.
Even though the survey showed that almost half of the respondents believed that Bitcoin will increase in value, only 17% of these half expect the leading cryptocurrency to go past the $50,000 mark by 2030. This is rather surprising news because some analysts have predicted that Bitcoin will be able to go past the $100,000 price tag by the end of 2021. The results indicate that 83% of the respondents do not believe that Bitcoin will be able to rise by 160% in the next decade or so. As far as 2020 is concerned, the asset has jumped up and down constantly.
In fact, statistics indicate that Bitcoin had seen a rise of 166.5% in this year alone, from its lowest level to now its highest. Moreover, there were also 17% of the survey respondents who actually believe that Bitcoin’s price is going to fall in the next decade. These bearish investors are in tandem with nearly one-sixth of the survey respondents who have speculated that Bitcoin will not be able to deliver a strong long-term price performance.
The other results of the survey showed that just a bit over half of the respondents i.e. around 50.1% are expecting for BTC to go past the $20,000 mark in the span of a decade. One third of the respondents have also speculated that Bitcoin’s price could go as low as $10,000, or even less, by that time. Moreover, the results include 11.8% of the respondents who think that Bitcoin would be worth $1,001 or even less by 2030. As for the reasons why these bearish investors have opted for this stance, it is mostly because they expect regulatory hindrances to cause problems for the crypto industry.