Kraken contacted the cryptocurrency community and conducted a survey. Respondents shared their views on Bitcoin (BTC) and Ethereum (ETH). The vast majority of participants were pretty optimistic about the leading cryptocurrency, even participants think Bitcoin will reach high levels this year by breaking a new record. In addition, participants expecting an increase in Ethereum think that ETH price will increase more than 6 times until the end of the year.
Bitcoin (BTC) and Ethereum (ETH) Price Forecast
In the survey conducted by Kraken Intelligence team to 400 customers, the participants were asked about their expectations. Among the participants there was a wide base, including individual traders, institutions, investors, payment firms, crypto exchanges and miners.
Bitcoin to Reach ATH in 2020
The respondents were asked about price expectations for Bitcoin in 2020. While some pessimistic participants thought the price would drop to zero, the more optimistic ones announced that they expected prices to rise up to $ 100,000.
Despite the huge change in emotion, the average valuation of price targets has been set at $ 22,866 and marked an extremely bullish move for Bitcoin. While the average price target was $ 19,424, the majority of respondents said they expected $ 20,000 this year.
Bitcoin price marks $ 6,144 level at the time of writing. If the price of Bitcoin reaches $ 22,866 as stated in the survey, it means that BTC will gain 3.7 times more value than the current prices.
Ethereum May Increase 600% Value
The respondents showed a similar uptrend for Ethereum, and their price targets were on average $ 810. Again, while the pessimistic participants expected Ethereum to drop to zero, they were making wildly optimistic predictions that expected the price to reach $ 10,000 a year. The most stated price target for Ethereum was $ 500, while a reasonable price target of $ 300 was also voiced.
Considering that Ethereum is currently trading around $ 130, ETH needs to gain more than 6 times to achieve the goal of the participants.
Given that the respondents are competent, forecasts can provide guidance on where the cryptocurrency market is going.
In addition, according to the survey, the participants stated that they usually perform technical analysis and take into account the core values before making any commercial decisions. Therefore, it is wise to think that the predictions are made quite clearly and reliably rather than wild emotions. So it will not be surprising that Bitcoin and Ethereum achieve these goals.
Related posts:
Why do cryptocurrency Exist – Institutions 
Bitcoin and independent property rights 
NASDAQ on market manipulation: Everyone is now talking about regulating bitcoin and cryptocurrency 
Pilot Porsche on Ethereum blockchain to trace provenance materials 
Xfers from Singapore is going to use blockchain Zilliqa 
Make your own tokens with the Guarda wallet
