About 83.7% of those surveyed by Luno in a recent study believe that the price of bitcoin will increase significantly in the coming months. In fact, 59.4% of the most optimistic respondents expect the leading crypto to rise to $ 100,000.
Bullish beyond Bitcoin
These are the recommendations from Luno’s Third Quarter Customer Opinion Survey that was conducted between August 20 and September 20. A total of 1,870 clients of the Luno cryptocurrency exchange from South Africa, Malaysia, Indonesia and the United Kingdom participated in the study.
In addition to bitcoin, study participants were also asked to share their thoughts on the prospects for altcoins such as ETH, XRP and BCH. As the study’s findings suggest, many of the respondents in the four countries are also equally optimistic about altcoins.
South Africans less optimistic on ETH
However, it appears that Luno’s clients in the UK and Malaysia are more bullish on cryptos such as ETH than their South African counterparts. The exchange’s blog explains:
“While 64.5% of our South African users are more bullish on bitcoin, Ethereum ranks second with 55.4%, followed by XRP (28.6%), bitcoin cash (25.9%) and litecoin (17.8%). Meanwhile, while Malaysian and British customers share great enthusiasm for bitcoin, they are more bullish on ethereum. Almost 70% of Malaysian customers are bullish on Ethereum, and 75% of investors in Britain share the same sentiment. “
Regarding clients’ understanding of cryptocurrencies as a long-term investment, the study found that 38% of respondents intend to keep their investments. While 28% of respondents consider themselves daily traders, the blog still concludes that “the idea of bitcoin as something you are looking for long-term seems to have taken root.”
What are your thoughts on the findings of this study? Let us know what you think in the comment section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not an offer or direct solicitation of an offer to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author are responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.