Recent survey finds investors optimistic about Bitcoin but doubtful it will exceed $50,000 by 2030
Bitcoin (BTC) is currently attempting to surpass the $20,000 mark for the first time since its major rally in 2020. Despite the cryptocurrency’s recent bullish phase, most investors do not expect it to gain an additional $30,000 in value over the next decade.
A recent survey by Genesis Mining questioned 1,000 current and former Bitcoin investors based in the United States and found that the majority do not expect Bitcoin’s price to exceed $50,000 by 2030.
While most respondents agreed that Bitcoin’s price will rise, many expressed doubt that it will reach the $50,000 target.
More than two-thirds of those surveyed do not foresee BTC breaking the $50,000 threshold within the next ten years. Even so, they believe Bitcoin will outperform other investment categories such as gold, real estate, and the stock market in the coming years.
Over 65% of respondents agreed that Bitcoin’s value will continue to increase.
Genesis Mining commented that “the results of our survey could provide a crystal ball not only for Bitcoin’s future but also for other investment vehicles like gold, stocks, the dollar, and real estate.”
Downbeat forecasts
Survey results showed that only 17% of respondents believe Bitcoin will reach $50,000 by 2030.
For Bitcoin to hit $50,000, the cryptocurrency’s price would need to rise roughly 160% over the next ten years. For most respondents this appears unlikely, despite a 166% price increase for Bitcoin so far this year.
Among the 1,000 people surveyed, 17% expressed the opposite view and predicted Bitcoin’s price will fall over the next decade. These participants were pessimistic about the cryptocurrency’s ability to maintain its current value.
About 50% of respondents expect BTC to be worth $20,000 or less by the end of the next decade. One third predict the cryptocurrency will trade at $10,000 or less, and 11.8% foresee prices falling toward $1,000.
Not all predictions were bearish. One in ten participants believed Bitcoin could reach six figures or more within ten years, and more than half of those bullish respondents expected BTC to top $500,000 by 2030.
Over 30% of optimistic respondents think wider Bitcoin adoption would reduce confidence in fiat currencies. Meanwhile, 25.8% of bullish speculators predicted that a major economic downturn would push people toward Bitcoin and other cryptocurrencies.
Finally, nearly half of those surveyed believe Bitcoin adoption is likely to grow despite political forces that affect the market.
Translated by Carolane de Palmas