About 83.7% of those surveyed by Luno in a recent study believe that the price of Bitcoin will rise significantly in the next few months. In fact, 59.4% of bullish respondents expect the leading cryptocurrency to rise above $100,000.
Bullish Behind Bitcoin
These are the findings of Luno’s third quarter customer survey conducted between August 20 and September 20.
Aside from bitcoin, study participants were also asked to share their thoughts on the prospects for altcoins like ETH, XRP, and BCH. As the study results indicate, many respondents in the four countries are similarly optimistic about altcoins as well.
South Africans are less bullish on ETH
However, Luno clients in the UK and Malaysia seem to be more bullish on cryptocurrencies like ETH than their South African counterparts. The stock exchange blog explains:
While 64.5% of our users in South Africa are most optimistic about Bitcoin, Ethereum comes in second with 55.4%, followed by XRP (28.6%), Bitcoin Cash (25.9%) and Litecoin (17.8%). Meanwhile, although Malaysian and British clients share a strong enthusiasm for Bitcoin, they are more bullish about Ethereum. Nearly 70% of Malaysian clients feel optimistic about ethereum, with 75% of investors in Great Britain sharing the same sentiment.”
Regarding clients’ perception of cryptocurrency as a long-term investment, the study found that 38% of respondents intend to mobilize their investment. While 28% of respondents consider themselves day traders, the blog still concludes that “the idea of bitcoin as something you are about to achieve certainly seems to have taken hold.”
What do you think of the results of this study? Tell us what you think in the comments section below.
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