As Bitcoin (BTC) hovers around the $30,000 price range, 78% of Americans anticipate that the asset will hit a new all-time high.
The Bitcoin halving is around a year away, and hence there are speculations about a new bull run. Every halving season has resulted in Bitcoin hitting a new all-time high, but will the trend continue?
What Do Americans Think About Bitcoin Hitting a New All-Time High?
According to a CryptoVantage survey, 78% of the respondents believe Bitcoin will hit a new all-time high. The company surveyed 1,000 individuals who are aged over 16 years old and those who invested in cryptocurrency.
23% of the respondents predicted that Bitcoin would hit all-time highs in the next year itself. Whereas 47% think the flagship cryptocurrency will cross the $69,000 area in the next five years.
Bitcoin halving is scheduled for next year, and historically the halving events have resulted in igniting a new bull run for cryptocurrencies.
Learn more about Bitcoin halving here
And learn how to buy Bitcoin from Apple Pay here.
It is also worth mentioning that 8% of the respondents believe Bitcoin will never return to its all-time highs.
When will Bitcoin return to all-time highs? Image Source: CryptoVantage
Respondents’ Opinions on Crypto Market
For the broader crypto market, 75% of the participants believe that the prices of crypto will be the same or much higher in the next five years. In contrast, 16% of the respondents believe that the prices will be the same as now or much lower.
What will be cryptocurrency price in the next five years? Image Source: CryptoVantage
Since its inception, Bitcoin has enjoyed the title of being the largest cryptocurrency based on market capitalization. However, 46.4% of respondents believe that the second-largest cryptocurrency, Ethereum (ETH), will surpass Bitcoin in terms of market capitalization.
Around 20.8% of Americans consider Dogecoin (DOGE) to be a contender that has the best chance to flip Bitcoin’s market capitalization.
Which coin can surpass Bitcoin? Image Source: CryptoVantage
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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.