Poll: How High Can It Go???? 📈

by 26 Oct, 2021

 

This week, we asked the Invstr Community if they believe Bitcoin will hit $100,000 before 2022. The poll had a majority winner, with 58 percent of Invstrs saying that it will reach the benchmark. Bitcoin certainly does have a lot of steam behind its recent rally, and it could continue. The Bitcoin ETF has been a major success in the stock market, and it continues to avoid major regulatory changes and continue developing as a cryptocurrency. For many, it’s hard not to be bullish about Bitcoin, even though it could easily be false optimism, so it makes sense that this was the winner in the poll. In second place is the idea that Bitcoin will not hit the $100,000 threshold, which 30 percent of Invstrs chose. This is the option that most people would choose if they wanted to be realistic. Bitcoin reaching 100,000 is about a 100 percent increase, which is crazy, and there are too many risks that stand in the way. We saw China place a massive crackdown, and other large countries can choose to do that, especially if it’s affecting their climate goals. The hype sentiment is greater though, which justifies the 2nd place finish for this option.

For the bronze medal, we have the 7 percent of Invstrs who don’t know what a Bitcoin is. Don’t worry, we won’t judge you! Bitcoin is a cryptocurrency, or digital currency, that is built off a platform called a blockchain. People can mine it using a computer, and it holds value like a normal currency. Let’s be honest, though, most people know exactly what a cryptocurrency is because it’s been dominating the financial space for the last year, so this is a valid last place finish.

Remember, if you feel bullish about Bitcoin, you can buy it on the Fantasy Finance platform or on your Invstr+ account. Have fun and see you all next week with more poll results!

The Invstr Team 🙂

 

 

 

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