According to a recent survey, the majority of people believe that the price of bitcoin in 2020 will return to levels equal to or higher than the highs at the end of 2017.
The survey was initiated by trader Alex Krüger and has already garnered more than 4,000 votes. Of these, as many as 47% replied that in 2020 the maximum price of BTC will be higher than $20,000, which is in line, or higher, with the all-time high reached in mid-December 2017.
About 27%, or about a quarter, believe that the maximum price will be between $15,000 and $20,000, while the remaining quarter say it will be less than $15,000.
Obviously, the result of this survey has been influenced by the recent increase in the price of bitcoin, since it was launched yesterday afternoon when BTC had exceeded $8,500, nevertheless there has been a bit of optimism in the crypto world since the beginning of the year.
In fact, on January 1st, bitcoin opened the year at $7,200 and then dropped to $6,900 on January 3rd, from where it started a rise that took it first to $8,300 on January 8th and then over $8,500 yesterday.
The optimistic sentiment in these days is also confirmed by the Crypto Fear & Greed Index which for the first time since November 2019 has returned to neutral territory.
In short, the great fear of mid-December seems to be behind us, to the point that the sunshine is back in the crypto world.
However, this certainly does not mean that 2020 will necessarily be a journey towards the new highs. On the contrary, fear may return in the next few days or months.
These surveys, considering that they do not only take into account expert analysts but the mass of people who follow the crypto markets’ trend, are heavily affected by the markets’ climate and are therefore subject to the same emotions that are somehow measured by the Crypto Fear & Greed Index.
Actually, the results of the survey would seem to be even more optimistic than the current neutral value of the index, perhaps because of the specific target group following Alex Krüger.
The fact remains that, undeniably, the crypto market is in much better health today than it was a month ago, however, things can change direction at any time, even suddenly.