Retail Bitcoin Investors Remain Bullish on BTC Even After Market Correction: Survey
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A new survey conducted by global decision intelligence firm Morning Consult is revealing an upbeat sentiment among retail Bitcoin (BTC) investors, despite the market downturn.
The new Morning Consult survey says that the share of adults contemplating buying Bitcoin during the last week of January remained the same as it was at the start of November of 2021 when the price started falling after hitting a record high of $69,044.
“Retail investors’ interest in Bitcoin hasn’t dampened since the price began dropping in November 2021. According to Morning Consult Brand Intelligence tracking, 21 percent of adults are considering purchasing Bitcoin as of last week, equal to the share who said the same at the beginning of November.”
According to the survey, Bitcoin investors are “less nervous” about the price drop which started in November of 2021 than when the price started falling after hitting the then-record high of slightly over $63,000 in April of 2021.
The Morning Consult survey says that Bitcoin investors on average expect the price of the flagship crypto to rise by over 40% from the current level in six months.
“To owners, Bitcoin’s current price represents just a dip, not a permanent loss of value. On average, they expect the price to increase substantially, to $55,223 in six months.”
Those who own more than $500 worth of Bitcoin tended to respond more bullish on the price action.
“The highest estimate came from respondents who own more than $500 in Bitcoin. This group expects Bitcoin’s price to reach $62,439 in six months — a few thousand dollars shy of its all-time high value of $69,000 in November 2021.”
Slightly less bullish, but more bullish than the average Bitcoin owner, are the investors who have notched over 12 months in the crypto market.
“But Bitcoin owners who have been in the cryptocurrency market for more than a year are also optimistic about the next six months, anticipating that the price will reach $57,950.”
Bitcoin is trading at $38,584 at time of writing, down by about 19% over the past 30 days.
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