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Poll: Only 24% believe Bitcoin price will fall below $ 50,000 by the end of 2022

January 1, 2022 - Around 3 mins mins to read

A new survey by PlanB shows that less than 24% of respondents predict that Bitcoin price will stay below $ 50,000 in the next 12 months.

Although Bitcoin ended 2021 up almost 60%, there is a bit of disappointment in the crypto space. This is because the asset hasn’t climbed into the six digits and even dropped 30% in less than 2 months.

Bitcoin

However, the creator of the popular stock-to-flow model initiated a survey that showed that nearly 50% of the community expect BTC to reach $ 100,000 or more by the end of 2022.

Over $ 100,000 in the next 12 months?

Before looking at the latest survey, it should be noted that such surveys are highly dependent on current market sentiment and can change quite quickly. For example, in a survey in September 2020, when BTC just climbed above $ 10,000, most people said that it would not be able to exceed $ 55,000 in 2021, but in reality BTC rose to 55,000 US dollars the year.

Then, in March last year, when BTC surged above $ 55,000, the majority of the community confirmed that the price would hit $ 100,000, but it didn’t. On top of that, most optimists are even saying it will climb to $ 500,000.

Now the overall sentiment is slightly down, as shown by the Bitcoin Fear and Greed Index, which shows extreme fear. This is mainly because Bitcoin has declined more than 30% since its high of $ 69,000 in mid-November.

As a result, most people would be more modest when making forecasts for 2022. PlanB’s latest survey on Twitter shows that nearly 24% believe BTC will be below $ 50,000, while 31.1% believe the price will stay between $ 50,000 and $ 100,000.

However, the answer that got the most votes shows that Bitcoin is sliding into the six-digit range between $ 100,000 and $ 200,000. On the flip side, only 12.6% believe that BTC will top $ 200,000.

2021 is really good

Despite the current negative mood in the community due to the price drop yesterday evening, the last year was actually quite positive for the top cryptocurrency. As mentioned above, it has hit some new all-time highs.

Although BTC has fallen more than $ 20,000 since then, it still ended the year up nearly 60%. PlanB points out that it outperforms most other traditional financial assets, including gold. Indeed, the precious metal, viewed by many as the ultimate inflation hedge, ended the year on a small loss amid rising inflation rates.

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

Poll: Only 24% believe Bitcoin price will fall below $ 50,000 by the end of 2022

A new survey by PlanB shows that less than 24% of respondents predict that Bitcoin price will stay below $ 50,000 in the next 12 months.

Although Bitcoin ended 2021 up almost 60%, there is a bit of disappointment in the crypto space. This is because the asset hasn’t climbed into the six digits and even dropped 30% in less than 2 months.

Bitcoin

However, the creator of the popular stock-to-flow model initiated a survey that showed that nearly 50% of the community expect BTC to reach $ 100,000 or more by the end of 2022.

Over $ 100,000 in the next 12 months?

Before looking at the latest survey, it should be noted that such surveys are highly dependent on current market sentiment and can change quite quickly. For example, in a survey in September 2020, when BTC just climbed above $ 10,000, most people said that it would not be able to exceed $ 55,000 in 2021, but in reality BTC rose to 55,000 US dollars the year.

Then, in March last year, when BTC surged above $ 55,000, the majority of the community confirmed that the price would hit $ 100,000, but it didn’t. On top of that, most optimists are even saying it will climb to $ 500,000.

Now the overall sentiment is slightly down, as shown by the Bitcoin Fear and Greed Index, which shows extreme fear. This is mainly because Bitcoin has declined more than 30% since its high of $ 69,000 in mid-November.

As a result, most people would be more modest when making forecasts for 2022. PlanB’s latest survey on Twitter shows that nearly 24% believe BTC will be below $ 50,000, while 31.1% believe the price will stay between $ 50,000 and $ 100,000.

However, the answer that got the most votes shows that Bitcoin is sliding into the six-digit range between $ 100,000 and $ 200,000. On the flip side, only 12.6% believe that BTC will top $ 200,000.

2021 is really good

Despite the current negative mood in the community due to the price drop yesterday evening, the last year was actually quite positive for the top cryptocurrency. As mentioned above, it has hit some new all-time highs.

Although BTC has fallen more than $ 20,000 since then, it still ended the year up nearly 60%. PlanB points out that it outperforms most other traditional financial assets, including gold. Indeed, the precious metal, viewed by many as the ultimate inflation hedge, ended the year on a small loss amid rising inflation rates.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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