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


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Although Bitcoin ended 2021 with a gain of more than 60%, there is little disappointment in the cryptocurrency space.

This is because Bitcoin has failed to climb into the six-digit area and has already fallen by 30% in less than two months.

The founder of the popular “stock-to-flow” model has started a survey showing that nearly 50% of the crypto community expects Bitcoin to go above $100,000 by the end of 2022.

Bitcoin and reaching a price of more than 100 thousand dollars:

Before exploring the latest opinion poll, it should be noted that such surveys are highly dependent on the current market mood and can change very quickly.

For example, in a poll in September 2020, when Bitcoin was first rising above $10,000, most people said it would not go above $55,000 in 2021, which it did.

Later, in March of last year, when Bitcoin was hovering above $55,000, the majority of the community voted that it would go above $100,000, which it did not.

In addition, the biggest optimist said the amount would rise to $500,000.

Now, the general sentiment is somewhat more bearish, as evidenced by the Bitcoin Fear and Greed Index which indicates extreme fear.

This is mainly due to Bitcoin dropping more than 30% since its mid-November peak at $69,000.

As such, most people are largely expected to be more objective in their predictions for 2022.

A recent Twitter survey of PlanB account showed that nearly 24% believe Bitcoin will stay below $50,000, while 31.1% think Bitcoin will be between $50,000 and $100,000.

The answer with the most votes sees Bitcoin entering the six-digit region between $100,000 and $200,000.

While only 12.6% voted that the price of Bitcoin will exceed $200,000.

2021 was a good year for bitcoin:

As we noted in our morning article:

After a perfect year…Can Bitcoin Hold Its Bullish Streak in 2022?

Despite the current negative sentiment in the community due to the recent price drop, the past year has been very positive for cryptocurrencies.

Several cryptocurrencies have charted new highs and peaks, with Bitcoin hitting a record high of $69,000 as mentioned above.

Although Bitcoin has fallen more than $20,000 since then, it ended the year with a gain of more than 60%.

Twitter account “PlanB” explained that Bitcoin has outperformed most other traditional financial assets, including gold.

In fact, the precious yellow metal, seen by many as an inflation hedge, ended up with a slight loss in a year of sky-high inflation.

Read also:

Project “Polygon” admits to hacking its network and stealing 801,601 MATIC coins

Malaysian police raid and confiscate 1,720 bitcoin mining machines

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