As per Surveys, Bitcoin Owners Won’t Trade till It’s Above $100k

According to the latest survey, there have been some astonishing specifics stated considering the common belief in Bitcoin’s power and the scenario that is hard to believe. There has been an increasing enthusiasm and interest in Bitcoin and cryptocurrencies that worth more than $2500, as per the 3 surveys conducted for many months on the US citizens.

Lendedu Survey Results in Yearn Positivity

Lendedu, the meal ticket of several private student loan programs, authorized a succession of 3 surveys based on the topic of cryptocurrencies and the attitudes of the US citizens. The first two included around 1000 citizens and covered topics, such as ripple, Bitcoin, and ether. On 15 November 2017, the thirds including many months divided equally the previous respondent numbers in order to target particularly Bitcoin investors.    

The complete online poll was administered by Polfish, which is a 24/7 online survey place that uses mobile applications and in 5 days starting from 9th November to 13th November.

Lendedu stated that it was not indemnified by a third party for operating this survey and it has no financial connection with any firms that advertise Bitcoin or other cryptocurrency products. According to what was published in third surveys, none of the members of Lendedu’s editorial team owns Bitcoin.   

The first question that was asked was why defendants were given power and authority in Bitcoin. Bitcoin is a world-changing science and that is obvious from the offered options, from the store of value to its cost and also including the latest consequence of family and friends, which include more than 40%.  

The HODL Philosophy

According to the poll, it says that on average, defendants claimed that the present value of their Bitcoin investment was around $2,930.85. And at the time when the survey was completed, the cost of Bitcoin was around $6,490.

More than half of the participants said that there is nothing to worry about when it comes to security reasons but two-thirds have to still sell any of their Bitcoin. Only 35% said no to report their Bitcoin shares to the IRS.

The one main detail of action that really pops is the final query’s answer. According to that, it asks that at what cost would you be ready to sell all your Bitcoin investment?

The poll disclosed that the average defendants were ready to sell their Bitcoin investment at $196,165.70 per Bitcoin. We all know the fact that the average respondent can only keep Bitcoin for a maximum of 3 years, which portrays how senseless the investors are.

In addition to this, the survey also found out that above 21% of Bitcoin investors were thinking to keep their investments for more than 7 years, with 11.7% thinking of hanging on to them for more than 10 years.