Only 8% think bitcoin will never tap its peak again.
A recent study conducted by CryptoVantage estimated that 23% of US residents expect bitcoin to climb to its all-time high price of almost $70,000 by the end of 2023. 47% think this would happen in the next five years.
that 70% expect BTC to shoot back to approximately $70K in the next five years. In comparison, only 8% believe the leading digital asset will never climb to that level again.The entity behind the analysis highlighted the overall positive stance of the respondents on bitcoin’s future valuation, reminding that the next BTC halving is due in the spring of 2024.
The event happens every four years and reduces the awards for miners in half, thus ensuring that the speed of production of new BTC slows down. It is worth mentioning that the price of the primary cryptocurrency has headed north following all previous halvings.The participants were also quite bullish on Ethereum , with 46% saying it has the best chance of surpassing bitcoin as the biggest crypto asset in the future. 20.8% expect Dogecoin to flip BTC, while 7.8% believe BNB could achieve that.
Recall that the US Federal Reserve adopted an aggressive interest rate hike strategy shortly after the outbreak of the COVID-19 pandemic. Lifting the benchmark has reduced investor interest in risk-on assets, such as digital currencies.
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