New analysis from U.Ok. assume tank Parliament Road revealed that 25% of British traders estimate they might have made £1 million or extra ($1.39 million) in revenue by investing all their wealth in Bitcoin at the beginning of 2020.
The survey “The Nice Cryptocurrency Report” polled 2,000 British traders about their confidence in crypto and common funding plans for 2021.
The ballot discovered that 29% of respondents had been inspired to speculate by the outsize returns generated within the newest bull run wherein Bitcoin costs have hit $56,000, or £40,000.
However on the opposite aspect of the ledger, the analysis discovered that 31% won’t put money into cryptocurrency as a result of they imagine they’ve already “missed the boat”.
Buyers revealed their worth predictions within the survey, with 31% predicting that they count on the value of Bitcoin to hit £50,000, or $69,000, this 12 months, a 23% enhance from present costs. Whereas a smaller quantity maintain a extra bullish view, with 18% agreeing that they count on Bitcoin to hit greater than £100,000 in 2021.
That also pales compared to Kraken CEO Jesse Powell’s current prediction Bitcoin will attain $1 million throughout the subsequent decade. Powell informed Bloomberg that if Bitcoin have been in a position to substitute all the world’s foreign money:
“That principally means regardless of the market cap of the greenback is, the euro — all of that mixed is what Bitcoin may very well be value.”
Whereas the attitudes of some UK traders are altering in the direction of cryptocurrency, greater than half of respondents nonetheless have little interest in getting into the market anytime quickly. The ballot revealed that 55% of respondents haven’t any plans to put money into crypto in any respect this 12 months. As well as, 52% expressed that they’re extra more likely to put money into the inventory market and conventional property corresponding to gold.
These outcomes are backed up by one other UK-based poll published in February, which surveyed 6,070 British residents above 18 and located that 57% haven’t any want to put money into cryptocurrency.