When Will Bitcoin Hit New All-Time High?
As Bitcoin (BTC) hovers around the $30,000 price range, 78% of Americans anticipate that the asset will hit a new all-time high.
The Bitcoin halving is around a year away, and hence there are speculations about a new bull run. Every halving season has resulted in Bitcoin hitting a new all-time high, but will the trend continue?
What Do Americans Think About Bitcoin Hitting a New All-Time High?
According to a CryptoVantage survey, 78% of the respondents believe Bitcoin will hit a new all-time high. The company surveyed 1,000 individuals who are aged over 16 years old and those who invested in cryptocurrency.
23% of the respondents predicted that Bitcoin would hit all-time highs in the next year itself. Whereas 47% think the flagship cryptocurrency will cross the $69,000 area in the next five years.
Bitcoin halving is scheduled for next year, and historically the halving events have resulted in igniting a new bull run for cryptocurrencies.
It is also worth mentioning that 8% of the respondents believe Bitcoin will never return to its all-time highs.
Respondents’ Opinions on Crypto Market
For the broader crypto market, 75% of the participants believe that the prices of crypto will be the same or much higher in the next five years. In contrast, 16% of the respondents believe that the prices will be the same as now or much lower.
Since its inception, Bitcoin has enjoyed the title of being the largest cryptocurrency based on market capitalization. However, 46.4% of respondents believe that the second-largest cryptocurrency, Ethereum (ETH), will surpass Bitcoin in terms of market capitalization.
Around 20.8% of Americans consider Dogecoin (DOGE) to be a contender that has the best chance to flip Bitcoin’s market capitalization.
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