According to a new survey, cryptocurrency investors remain wholly optimistic for the future…
The Annual Crypto Sentiment Report undertaken by coinschedule reveals some pretty bullish sentiment from crypto investors even in the grips of a hefty bear market.
According to cryptobriefing, 150 investors responded to the survey, an impressive 76% of which said they were optimistic about the continued growth of the industry with a mere 24% stating that the crypto winter had frozen their determination.
30% of respondents cited the potential collapse of the global economy as a reason for investing; 60% added that the undying technology was a push to invest and 80% replied that they had bought cryptocurrency in order “to profit from the investment” re.
speaking on this rather bullish response, Alex Buelau, CoinSchedule’s CEO said:
“Interestingly, and very positively, most respondents appear to be committed to crypto for the long-term – being keenly interested in the fundamentals underpinning cryptocurrencies, not just focused on short-term price increases.”
bullish replies aside, there is still some level of skepticism within the community with almost 50% of respondents asserting that scams were the main concern, followed closely by 40% citing regulatory worries, and exchange hacks as a cause for distress.
Turning back to slightly more bullish sentiment, the survey revealed various investors price predictions, with approximately 35% foreseeing Bitcoin (BTC) rising in 2019 to between $5000 and $10,000; for some investors the bear market had clearly taken its toll on their optimism, with 28% stating that it may either stay around current price levels or drop to $1000.
35% were more bullish, thinking BTC would likely rise beyond to $10,000 with a further 10% citing a pass through its all-time high of $20,000.
Interestingly some respondents stated that regulatory certainty would be a catalyst for investment, but ultimately, and perhaps more importantly, technological advancement remained the main motivation for further investment.