A recent survey by cryptocurrency exchange Luno found that around 83.7% of respondents believe that the price of Bitcoin will rise significantly over the next few months. 59.4% of the more optimistic respondents expect the world’s largest cryptocurrency to rise as high as $100,000. This is the result of Luno’s third quarter customer sentiment survey conducted from August 20 to September 20, and 1,870 Luno customers from South Africa, Malaysia, Indonesia and the United Kingdom participated in this survey.
In addition to Bitcoin, survey participants were asked to share in altcoins such as ETH, XRP and BCH. The results show that, like many respondents in the four countries, they are optimistic about altcoins. However, Luno customers in the UK and Malaysia are more optimistic about cryptocurrencies like ETH than customers in South Africa.
In response, the exchange blog stated that “64.5% of South African users are most optimistic about Bitcoin, but Ethereum is second with 55.4%, followed by XRP (28.6%), Bitcoin cash (25.9%), and Litecoin (17.8%). ) followed. Meanwhile, Malaysian and UK customers both share a strong passion for Bitcoin, but are most optimistic about Ethereum. Nearly 70% of Malaysian customers are optimistic about Ethereum, and 75% of UK investors share the same sentiment.”
When asked about customers’ understanding of cryptocurrencies as long-term investments, 38% of respondents said they were willing to put their investments on hold. Although 28% of respondents consider themselves ‘day traders’, the blog concludes that “the idea of holding Bitcoin for the long term seems to have definitely taken root.”
Kyungsoo Kim, Editor-in-Chief, Global Economics ggs077@g-enews.com
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