Bitcoin to Reach ATH of $69,000: 25% of Americans Believe (Survey)

• A recent survey estimated that 25% of US residents expect bitcoin to reach its all-time high price of almost $70,000 by the end of 2023.
• 47% think this will happen in the next five years and 70% expect BTC to shoot back to approximately $70K in the same time period.
• The majority believe the high inflation will make the cryptocurrency industry more attractive to investors.

Survey Reveals Americans’ Positive Stance on Bitcoin

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. The survey questioned 1,000 American citizens who had purchased cryptocurrencies in the past.

Expectation for Bitcoin Price Surge

Out of those surveyed, 47% think this would happen in the next five years and 70% predict BTC will shoot back up to approximately $70K within that same timeframe. Interestingly enough, only 8% believe that it won’t ever reach such a peak again.

High Inflation Attracts Investors

The majority also believes that the ongoing high inflation across countries is making cryptocurrency investment more attractive for potential investors. This sentiment is further reinforced by upcoming halving events which take place every four years and reduce mining rewards for miners – increasing scarcity and therefore driving prices up over time.

Cryptocurrency Industry Growing More Popular

Overall, these results show a positive stance among American citizens when it comes to investing in cryptocurrencies like bitcoin – with 78% believing it will eventually hit an all-time high again despite current market conditions caused by pandemics or other economic issues.

Conclusion

This survey has revealed an optimistic outlook from US citizens regarding Bitcoin’s future valuation – with many expecting it to return above its ATH within five years from now due to both increased demand as well as supply reduction through halving events taking place every four years.