Americans Bullish On Cryptos Amid Regulatory Concerns
According to a recent CryptoVantage poll, nearly 70% of Americans believe Bitcoin will return to its all-time high of $69,000 in the next five years.
The survey only polled citizens who had previously traded in cryptocurrencies, with the goal of analysing factors that lead to crypto investments.
Surprisingly, approximately 23% of enthusiasts believed that the king coin would reach the ATH in 2023. While the optimism was notable, it appeared improbable given the market’s momentum.
However, the respondents were not only placing large bets on Bitcoin. Ethereum, the second-largest coin by market capitalization, was selected as the crypto with the best chance of surpassing BTC in the next bull run. 46% of those polled agreed.
The survey reveals that 2/3 of respondents believe supply and demand are the primary factors influencing crypto price movements. This holds value given the upcoming BTC halving event, which is less than a year away.
(With inputs from Shikha Singh)
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