New Crypto Twitter Poll Shows Bulls are on Social Media as Over Half Think Price of Bitcoin to Rise
- As per a new poll on Twitter, 60% of the respondents stated that the price of Bitcoin will skyrocket prior to currency’s halving event next year.
- Similarly, 26% of the participants claim that BTC will experience a pullback before the halving takes place, following which the price of the premier asset will surge once again.
As many of our regular readers are probably already aware of, Bitcoin’s next halving is all set to take place a year from now. After the event concludes, miners will receive a reward share of 6.25 BTC per block — as compared to the 12.5 BTC that they currently receive for the same effort.At this point in the article, it should also be pointed out that anytime a BTC halving takes place, the price of the flagship asset also shoots up quite dramatically. Additionally, from today's standpoint we can see that with the demand for Bitcoin increasing all over the globe, it seems as though the price of the digital asset will only move up as time goes on.
A Historical Perspective
When looking at BTCs performance over the past year or so, we can see that 2019 has been an extremely positive year for the altcoin. To put things into perspective, we can see that over the course of the last 5 months or so, Bitcoin’s price has surged by a whopping 110 percent.
This exponential increase has led many proponents to exclaim with supreme confidence that the crypto market is all set to scale to new heights by the end of this year. On the issue, Arthur Hayes, CEO of margin trading exchange BitMEX, was recently quoted as saying that the ongoing “bull market is very real” and that looking ahead, we can expect to see a number of top-altcoins such as ETH, BCH, EOS surge in a big way.
In a similar vein, we can also see that as per an all-new Twitter poll that received nearly 2000 responses, over 60% of the masses believe that the ”market will go up prior to the halving ”. Similarly, only 26% of the respondents claimed that Bitcoin’s price will experience a pullback before the event next year.
How will markets react to #bitcoin 2020 halving?
— PlanB (@100trillionUSD) May 20, 2019
In closing out this piece, we should mention that as things stand, Bitcoin is hovering around the $8,000 mark, with the premier asset looking to break past its current support range of around $8,100.