According to a conducted by PlanB, a crypto analyst, 51% of respondents believe that the king coin will hit $100,000 before 2021 comes to an end.
In July, PlanB had carried out a poll asking his followers what they think the price of Bitcoin will be by December 2021 using the S2F model. Of the over 26,000 respondents, 17% believed BTC would reach $288,000, 23% said $100,000, and 17% said $55,000. A majority of the votes, 43%, said it would remain below $50,000. At the time the poll was done, BTC was trading in the $9,000 range.
One month later, with BTC trading around $11,500, a new poll reveals a drastic change of minds. 30% of respondents now believe BTC will remain under $50,000. 19% said it would be $55,000, 29% said $100,000, and 22% said $288,000. Collectively, 51% believe the king coin will exceed $100,000.
The crypto analyst believes the new figures represent a bullish outlook among Bitcoin investors. For most of this year, Bitcoin remained under $10,000. In the first week of August, it skyrocketed hitting $12,000 and has been trading within $11,000 since.
Crypto analyst Willy Woo Bitcoin’s bull started as far back as April 2019 with institutions scooping up more of the king coin.