Crypto analyst and economist Alex Krüger just released a poll on four potential outcomes for Bitcoin.
The results are a snapshot of the crypto community on Twitter and highlights how people think things may play out for Bitcoin – after years of volatile price swings, regulatory uncertainty, bans, critics, supporters, new platforms, on-ramps and developers.
Although three of the possible outcomes are bullish, Krüger’s fourth and final outcome centers on the risky nature of trading in the emerging and extremely volatile market.
“Four long-term bitcoin scenarios:
#1 Bitcoin becomes a global reserve currency. Current hodlers, all proven to be early, get immensely rich.
#2 Scarcity keeps price going up forever. Bitcoin continues to outperform. Investors do extraordinarily well.
#3 After a few more epic runs $BTC eventually matures and settles into a wide range, like most commodities do (in real-terms). Bitcoin maxis turn into goldbugs 2.0.
#4 Bitcoin dumps into oblivion. People keep on buying the dip. Bitcoiners get REKT.
Optimism rules. Out of more than 4,500 votes, 47% chose the third scenario as the top pick: a happy ending where Bitcoiners become next-generation goldbugs as the world’s most popular cryptocurrency settles into a range.
Of those who selected the third scenario, 45% also bullishly predict that Bitcoin’s settling range will be above $100,000, compared to 15% who think Bitcoin’s settling range will ultimately dip below $15,000.
Pessimism quickly follows. Bitcoin dumping into oblivion nabbed second place with 20% of respondents, followed by Bitcoin’s scarcity pushing its price up forever.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. » Read Full Article «