Majority of Americans Optimistic about Bitcoin’s Return to All-Time Highs in Five Years, CryptoVantage Survey Shows
According to a recent survey conducted by CryptoVantage, 70% of Americans who have bought cryptocurrency in the last five years believe that Bitcoin will return to its all-time high within the next five years. Out of this group, 23% predict that it will happen within the next year. On the other hand, 46% of respondents think that Ethereum has the best chance of surpassing Bitcoin, while 21% believe that Dogecoin will. Only 21% of respondents believe that the recent SEC lawsuits against Binance and Coinbase will negatively impact the future value of cryptocurrency.
The survey provides valuable insights into public sentiment and expectations for the future prices in the cryptocurrency market. The majority of respondents are optimistic about the future of Bitcoin, with a significant number predicting that it will reach new all-time highs. The survey also highlights the popularity of Ethereum and Dogecoin as potential contenders to surpass Bitcoin.
When asked about the major factors that might impact the price of cryptocurrencies, respondents pointed to recent events such as the SEC lawsuits as potential influences. However, only 20% of respondents believed that these events would have a negative impact on the future value of crypto. Other factors mentioned include the collapse of FTX and the lack of mainstream adoption.
The survey was conducted online and targeted 1,000 American residents who have purchased cryptocurrency in the last five years. The data was collected between June 20 to 21, 2023. The estimated margin of error is +/- 3%.
Overall, the survey indicates a positive outlook among Americans regarding the future of Bitcoin and cryptocurrency. The majority of respondents believe that Bitcoin will reach new all-time highs, and there is considerable interest in alternative coins such as Ethereum and Dogecoin. The impact of recent events on the price of crypto is seen as relatively minor by most respondents.