In a recent study, about 83.7% surveyed by Luno believe that the price of Bitcoin will increase significantly in the next few months. In fact, 59.4% of over-the-top respondents expect the top crypto to rise to ,000 100,000.
Bullish outside of Bitcoin
The results of Luno’s Q3 Consumer Sentiment Survey, which was conducted between August 20 and September 20. A total of 1,870 subscribers to the Luno Cryptocurrency Exchange in South Africa, Malaysia, Indonesia and the United Kingdom took part in the study.
In addition to Bitcoin, study participants were also asked to share their thoughts on the potential of altcoins such as ETH, XRP and BCH. According to the results of the study, many of the respondents across the four countries are similarly brilliant in the case of Altcoin.
South Africans are less bullish on ETH
However, it can be seen that Luno customers in the UK and Malaysia are more enthusiastic about crypto like ETH than their South African counterparts. Exchange’s blog explains:
“64.5% of our South African users are the most optimistic about Bitcoin, followed by Etherium at 55.4%, XRP (28.6%), Bitcoin Cash (25.9%) and Litcoin (17.8%). However, they are the most optimistic about Ethereum, with almost 0% of Malaysian consumers feeling optimistic about Ethereum, and 5% of investors in Great Britain sharing the same sentiment.
Regarding consumers ’understanding of cryptocurrency as a long-term investment, the study found that 38% of respondents want to hodgepodge their investments. Although 28% of respondents consider themselves day traders, the blog still concludes that “the idea of Bitcoin that you have been bringing up in the long run must have become original.”
What are your thoughts on the results of this study? Let us know what you think in the comments section below.
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