Poll Suggests Crypto Investors Believe Bitcoin Will be Worth Between $100,000 and $1 Million
Bitcoin (BTC) is the most popular virtual currency around the world and it has been growing in many different jurisdictions. Investors do not only use it as a store of value but also to speculate with its price in the short and also long term.
Since December 2017, Bitcoin lost more than 80% of its value and it could keep falling in the near future. At that time, Bitcoin was traded close to $20,000 but it reached the lowest point in December 2018, around $3,200. When Bitcoin was skyrocketing, people supposed that it was going to reach new highs rather than falling as it did. Indeed, several investors thought that Bitcoin could eventually reach $100,000 or even more.
In a recent tweet released by MagicPoopCannon, a recognized cryptocurrency trader, he asked the community where it thinks that Bitcoin will be in the long term. 42% of the respondents answered that Bitcoin could be traded in the long term between $100,000 and $1 Million. Additionally, 72% answered that it will be traded above $20,000. Just 28% said that Bitcoin will be traded under $20,000.
For my long term view, I see Bitcoin going to at least $100,000 within four years. I think it could even reach $150,000 in that time. Eventually, I believe it could surpass $1,000,000. Where do you see BTC going in the long term?
— MAGIC (@MagicPoopCannon) February 26, 2019
The trader is also very confident about the future of the space, since he mentioned that Bitcoin is going to be at least $100,000 within four years. Moreover, he eventually believes that it could surpass $1 million as well.
MagicPoopCannon is also one of the most popular traders on TradingView. He is always sharing insights about the crypto market with more than 53,000 followers. He has also correctly predicted Bitcoin falling under $6,000 several months before this happened.
He believes that the market has already bottomed and that Bitcoin is following a similar trend as in 2015 when the market operated stably in a tight range before starting its ascending path up to $20,000.