Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitcoin

Bitcoin News Today – Headlines for July 1

  • A recent survey revealed that crypto holders are more interested in the long-term
  • A survey by Bitcoin IRA reveals that 43% of investors expect Bitcoin to break over $15 this year
  • Bitcoin’s global adoption and scarcity is on the rise

Bitcoin News Today – According to a recent survey, many investors and traders buy and hold digital currency as long-term investment. The survey was conducted by Bitcoin IRA – a major digital currency custodian. The survey revealed that 42 percent of the firm’s customers expect the price of Bitcoin to surpass the $15k mark by the end of this year.

43% of Bitcoin Investors Expect A Break Over $15k This Year

The highest level the world’s most dominant digital currency tested last year is the $14k range. This year, most of its investors are expecting a more bullish response from the coin. The expectations for the digital currency are high, and the minimum level many are expecting the digital currency to exit the year with is $15k.

According to an announcement on June 29, Bitcoin IRA carried out a survey with more than 300 respondents, which are its customers. The customers answered the questions voluntarily. According to the survey, an astounding 57 percent of the respondents said that they buy and hold digital currency as a long-term investment.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1Bitcoin(BTC)$9,165.550.134%

Bitcoin IRA Believes in the Long-term Benefits and Value Propositions of Crypto

In an interview with Cointelegraph, Mike Schrobo – the head of marketing at Bitcoin IRA – said that all the respondents of the survey were retail investors. The interview asked him if the company believes the price prediction is accurate, he said:

“We firmly believe in the long-term fundamental benefits and value propositions crypto provides to our financial system. Upward price pressures will likely continue as Bitcoin’s adoption and scarcity increases and as global money supply of fiat increases during the pandemic.”

The data from the survey further revealed that 53 percent of respondents are interested in earning interest on their investment, either through investing or lending. The survey further revealed that 46 percent of respondents showed interest in investing in precious metals, while 36 percent wants to invest in cannabis, and another 9 percent wants to invest in movies.

According to a report by CT towards the end of May, the chief executive officer of a market analytics firm went as far as to say BTC could take the store of value role of gold in the long run, as the world increasingly becomes digital.

Bitcoin (BTC) has been relatively stagnant recently. The digital currency has been trapped below the $9,500 hurdle point and it needs more bullish traction to break over that level.

News Source

Advertisement

Copyright © 2020 Elevenews