RATE Group | Most Traders Expect New All-Time High Price for Bitcoin in 2020
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Most Traders Expect New All-Time High Price for Bitcoin in 2020

28 Mar Most Traders Expect New All-Time High Price for Bitcoin in 2020

Posted at 12:53h in Bitcoin News by

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A user poll conducted by Kraken has revealed that most traders are expecting Bitcoin (BTC) to break into new all-time highs before 2021.

The poll analyzed the responses of 400 “VIP” crypto traders on Kraken: 41% of respondents described themselves as “investors”, 40% identified as “traders”, and 15% as “institutions” — with the remaining 4% comprising payment processors, crypto exchanges and miners.

84% of respondents manage less than $10 million in capital, while 11% manage between $10 million and $50 million. The remaining 6% is divided evenly between traders managing from $50 million to $100 million and traders mobilizing more than $100 million.

Traders expect BTC to set record highs this year, not ETH

The survey found that the average BTC price target for 2020 is $22,866. However, traders do not expect Ethereum (ETH) to also see new highs — with $810 comprising the average price target for ETH. 

The overall market sentiment is slightly bullish, with 44% of…

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