Most Bitcoin (BTC) investors bullish but would HODL even if cryptocurrency’s prices falls to zero, says survey
Seventy percent of the respondents of a recent survey said that they won't sell their Bitcoin even if it reaches $0.
Thu, 20 Aug 2020, 07:23 am UTC
Almost everyone is bullish about Bitcoin (BTC) these days, a sentiment that was reflected in its recent price movement when it briefly breached the $12K mark. However, a recent survey revealed just how bullish most investors are with a majority of the respondents saying that they’ll hold on to the token even if it falls to zero.
The survey was conducted by Twitter user Plan B who is known for his stock-to-flow price prediction model, according to Bitcoin.com. In the Twitter pool he created, Plan B asked Bitcoin investors if they plan to sell their holding if BTC’s price does not increase.
“You are probably bullish on bitcoin but what if BTC price does not increase sharply next years? When will you sell?” Plan B posed the question to the poll’s participants. By the time it concluded on Saturday, July 15, 22,635 people responded to the survey.
Plan B gave four options to the respondents on what price level they might want to sell. The first option is when BTC falls below $6,000, the second is when BTC < $3,000, and the third choice is when BTC < $1,000. On the fourth choice, on the other hand, is “Never, I ride it to $0.”
Surprisingly, 72.1 percent chose the last option. Apparently, they plan to hold their Bitcoin regardless of its price, even if it reaches $0. Meanwhile, 16.2 percent plan to sell their BTC once it dips below $6,000, 5.9 percent will sell it once it reaches below $3,000 and the remaining 5.8 percent will only give up their BTC once it reaches below $1,000.
“Super proud that 72% of my followers are hardcore Hodlers!!” Plan B wrote on Twitter. “#Bitcoin goes to $million+ or to "zero" and we ride it all the way. Vision, conviction, and patience is the name of the game. Even if there is only 1% chance of $1million BTC, it is worth it (the option argument).”
Some respondents offered their reason for hodling. “I’m bullish on bitcoin,” a Twitter user wrote. “But even if it goes close to zero, I’ll still hodl or buy more, it’s a non-correlated asset (hedge) for all my other investments/capital.”
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