Fun

Trader Survey Respondents Predict Bitcoin Price Will Surpass $22K in 2020

News Feed - 2020-03-29 09:03:17

Trader Survey Respondents Predict Bitcoin Price Will Surpass $22K in 2020


San Francisco-based exchange Kraken conducted a poll that stems from the responses of 400 “VIP” cryptocurrency traders. Despite the current economic climate, surveyed participants indicate they still believe the cryptoconomy is in a “bull market.” Moreover, Kraken’s survey respondents think BTC prices will touch a new all-time high at $22,866 per coin.


Also read: 2x Bitcoin — Wanna Double Your BTC to the Moon? Forget About It 400 VIP Kraken Traders Are Still Bullish – Survey Respondents Expect BTC’s Price to Touch $22K in 2020


On March 27, Kraken published a survey called the “2020 Sentiment Survey: Where We Are & What’s To Come.” The poll was conducted with 400 “VIP” traders and 41% said they were “investors,” 40% noted they were “traders” and 15% said they were “institutions.” A small percentage of the respondents were payment firms, crypto exchanges, and miners.


“Kraken Intelligence, our team of in-house research experts, surveyed 400 clients from around the world this January to gauge their sentiments and expectations for crypto in 2020,” explains the VIP client letter sent on Friday.



According to the report, 44% of participants think the cryptoconomy is still in the midst of a “bull market.” Roughly 34% of those surveyed said they were “unsure” at the moment. Further, 22% of the Kraken survey respondents think that the cryptoconomy is facing at “bear market” right now.


Interestingly, surveyed individuals and organizations envision BTC touching a new all-time high (ATH) in 2020. The survey notes that respondents expect the price of BTC to jump to $22,866 per coin at some point during the year. The VIP traders also predict that the price of ETH will reach $810, but ether will not surpass it’s ATH in 2020.


‘Despite Uncertain Times, the Crypto Industry Remains Optimistic’


The respondents also indicated that some of them manage massive amounts of funds as 84% of participants said they manage less than $10 million. But 11% of surveyed individuals disclosed that they manage around $10 million and $50 million according to Kraken’s statistics.



6% said they managed funds between $50 million to $100 million. “Nearly 50% of respondents anticipate that the U.S. SEC will approve a bitcoin ETF this year,” Kraken’s blog post stresses. “Tether (USDT) was the overwhelming favorite (60.4%) among stablecoin users,” the report also notes. Kraken’s report adds: Despite these uncertain times, it is clear from the survey that the crypto industry still has many advances and catalysts to be optimistic about.


What do you think about Kraken’s recent survey? Let us know in the comments below.


  Read disclaimer Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Related Microsoft Patents New Cryptocurrency System Using Body Activity Data NEWS | 1 hour ago


Microsoft has patented a cryptocurrency mining system that leverages human activities, including brain waves and body heat, when performing online… read more. US Lawmaker Claims Stimulus Bill Bolsters Fed Secrecy, Pork Funds, and Wall Street Bailouts NEWS | 13 hours ago


On Friday, U.S. bureaucrats passed the 2020 stimulus bill, which has become the largest cash injection package ever created by… read more. Tags in this story $810, 2020, 22, 400 clients, 866 per coin, Bear Market, Bitcoin, bitcoin etf, BTC, Bull Market, crypto exchanges, ETH, Ethereum, fund managers, Kraken, Kraken Intelligence, Miners, payment firms, price predictions, SEC, Survey, Tether (USDT), Traders, VIP Traders


Image Credits: Shutterstock, Pixabay, Wiki Commons, Kraken Intelligence You can now purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here. Show comments Please enable JavaScript to view the comments powered by Disqus.

News Feed

SEC breaks from past policy guidelines in Uniswap crackdown
Ana Paula Pereira6 hours agoSEC breaks from past policy guidelines in Uniswap crackdownThe U.S. SEC Wells notice against Uniswap raises questions about consistency in policy enforcement.11240 Total views9 Total sharesLis
Solana to outpace Ethereum in consumer applications — Former head of growth
Zoltan Vardai11 hours agoSolana to outpace Ethereum in consumer applications — Former head of growthSolana could outpace Ethereum in terms of consumer DApps, according to the Solana Foundation’s former head of growth
China’s Inflation Rate Drops to Lowest in 18 Months
China"s Inflation Rate Drops to Lowest in 18 Months The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest st
Twitter Files for Payment Business — Elon Musk Says Platform Could Offer Debit Cards, Money Market Accounts
Twitter Files for Payment Business — Elon Musk Says Platform Could Offer Debit Cards, Money Market Accounts Twitter has filed paperwork with the U.S. Financial Crimes Enforcement
Bitcoin Price Taps $41,970, Morgan Creek Partner Says ‘BTC Is a 10x Improvement on Gold’
Bitcoin Price Taps $41,970, Morgan Creek Partner Says "BTC Is a 10x Improvement on Gold" Bitcoin’s price continues to move northbound, as the crypto asset&
Brayden Lindrea8 hours agoLightning Labs releases Taproot Assets alpha, bringing stablecoins to BitcoinTaproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director o
ApeCoin holders mull proposal for Bored Ape-themed hotel in Bangkok
Tom Mitchelhill6 hours agoApeCoin holders mull proposal for Bored Ape-themed hotel in BangkokA member of the ApeCoin DAO is asking for $356,000 to renovate a portion of a hotel in downtown Bangkok with Bored Ape Yacht Cl
Sega Might Drop NFT Experiments if Perceived by Gamers as a Money Grab
Sega Might Drop NFT Experiments if Perceived by Gamers as a Money Grab Sega, a leading videogame development company, has announced its new stance when it comes to the play-to-earn
ETH to spike post halving, ETF denial would not ‘be bearish’ — Analysts
Ciaran Lyons2 hours agoETH to spike post halving, ETF denial would not ‘be bearish’ — AnalystsCrypto researcher Jupiter Zheng believes that the Ether ETF decision may not have a large impact on open interest as the
Idaho Warns of Crypto Scams Promising 80% Returns Every 24 Hours
Idaho Warns of Crypto Scams Promising 80% Returns Every 24 Hours The finance department of the U.S. state of Idaho has warned investors of a series of cryptocurrency scams promisin
Standard Chartered’s crypto arm eyes buying billionaire’s crypto OTC firm: Report
Tom Mitchelhill6 hours agoStandard Chartered’s crypto arm eyes buying billionaire’s crypto OTC firm: ReportZodia Markets is reported to be in talks to buy Elwood Capital Management, a crypto firm backed by billionair
Helen Partz4 minutes agoSouth Korean Hana Bank enters crypto custody business with BitGoKEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024.19 Total views14 Total shar