The price of Bitcoin (BTC) should fall to $10,000 before it can rise up to $30,000 in the market.
Investors Want Bitcoin to Plummet
Just recently, a survey was carried out by Bloomberg Markets Live to know the preference of investors in regard to Bitcoin’s price.
The survey results show that the majority of the investors want the price of Bitcoin to move into the lower bearish zone before moving higher. In the survey, the majority of the investors shared their opinion about the trading price of Bitcoin.
According to the survey results, the majority of the investors prefer the price of Bitcoin to move down to $10,000. However, the bearish expectation has a bright side for Bitcoin. It suggests that the investors want the price of Bitcoin to dip so they can accumulate it as much as possible.
This means that the investors want the trading price of Bitcoin to become very bearish so they can gather as much Bitcoin as possible. This is a clear indication that the investors want to support Bitcoin so they can profit from the asset as much as possible.
60% Bearish & 40% Bullish
The survey results show that out of the total respondents, 60% of respondents prefer that the price of Bitcoin should fall to $10,000. They prefer that the price of Bitcoin dips tremendously before it can surge at a significant rate to become very lucrative for them.
On the other hand, 40% of the total respondents preferred otherwise. They wanted the trading price of Bitcoin to increase to a higher level. Their response was that they expected the trading price of Bitcoin to rise up to $30,000.
Performance of Bitcoin
The data suggests that in the past 24 hours, the trading price of Bitcoin was at $20,573. The graph shows that the trading price of Bitcoin came down to almost 4%. As for the past 7-day performance, the trading price of Bitcoin rose by 7%.
In the past 30-days, the trading price of Bitcoin has experienced an overall 29% dip followed by a 39% dip in the past 365-days.
Survey Information
The information suggests that a total of 950 users participated in the particular survey. Compared to the institutions, the investors showed more skepticism towards cryptocurrencies. Out of the total participants, 20% of the retail investors stated that they considered cryptocurrencies to be nothing more than garbage.
Compared to the 20% of investors calling cryptocurrencies worthless, 28% of the total investors believe that the future of finance would be cryptocurrencies.
Despite many investors wanting Bitcoin to dip, it is a positive signal for the largest cryptocurrency asset. It suggests that many investors want Bitcoin to dip so it can move higher in the upcoming days. It suggests that the investors are still very bullish and have high hopes for Bitcoin.
