Binance Lite survey: 23% will not sell bitcoin
Bitcoin

Binance Lite survey: 23% will not sell bitcoin

By Emanuele Pagliari - 3 Oct 2019

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In recent hours, a simple Twitter survey has been launched on the Binance Lite account, asking followers – especially bitcoiners – to indicate at what price they intend to sell most of their bitcoins.

There are four options in the survey: the first reports the figure of 50 thousand dollars, the second 250 thousand and the third the fateful threshold of one million dollars predicted by John McAfee, according to whom Bitcoin will reach that value before the end of 2020.

Whereas the fourth answer is “never”, thus the intention of not to selling BTC.

At the moment, the million-dollar threshold is at the top of the ranking, with 31% of voters reporting that they want to sell a good part of their Bitcoins when BTC reaches that price. In second place, however, there’s the price of 50 thousand dollars with 25% of the votes, while the one relating to the 250 thousand dollars is in last place with 21% of the votes.

The remaining 23% of the voters, stated the intention not to want to sell their Bitcoins for any amount.

Bitcoiners are used to hodling for the long term

At the moment the survey has a rather small number of participants, close to 6500 people. The amount of voters is too small to carry out studies and statistical evaluations, nevertheless, the high percentage of bitcoiners who do not intend to sell their BTC is quite surprising.

The number of those who firmly believe in John McAfee’s predictions is also surprising given that most voters have set themselves the goal of selling a good part of their BTC at the very figure of one million dollars per Bitcoin.

In the crypto community there are often two types of users: hodlers and traders. Many people wonder which of the two strategies generates more profit in the long run, especially considering the high and unpredictable volatility of the cryptocurrency markets, which often test even the most experienced traders.

Over the years, bitcoin has proven to be an asset that can generate interesting economic returns even using the simple hodling strategy. For this reason, a large part of the bitcoiners that voted in the survey do not intend to sell their BTC, probably because they consider bitcoin as a real store of value.

It is worth mentioning that the other cryptocurrencies had different performances: touching over and over again certain maximum and minimum values during the cycles and not allowing the same economic return as bitcoin.

Emanuele Pagliari
Emanuele Pagliari

Telecommunications engineer with a strong passion for technology. His adventure in the world of blogging started on GizChina.it in 2014 and then continued on LFFL.org and GizBlog.it. Emanuele is in the world of cryptocurrency as a miner since 2013 and today he follows the technical aspects related to blockchain, cryptography and dApp, also for applications in the Internet of Things.

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