Home Coins Bitcoin (BTC) 72% of Investors Will Hold Bitcoin Even if Price Falls to $0

72% of Investors Will Hold Bitcoin Even if Price Falls to $0


1595875088 211 29 Cryptocurrencies Delisted on Liquid Exchange to Comply With Singapores

A new poll finds that 72% of bitcoin investors are bullish about the cryptocurrency and will hold onto it even if the price somehow falls to zero. A total of 22,635 votes were gathered for this survey.

Most Bitcoin Investors Would Hodl Regardless of the Price

Twitter user Plan B, known for his stock-to-flow price prediction model, has conducted a Twitter poll to establish when bitcoin investors will sell their BTC if the price does not increase. The poll concluded on Saturday and 22,635 votes were counted in total.

“You are probably bullish on bitcoin but what if BTC price does not increase sharply next years? When will you sell?” Plan B asked his followers. Among respondents, 72.1% answered that they will hold onto their BTC regardless of the price, riding it to $0 if needs be.

The next most popular option was to sell bitcoin when the price falls below $6,000, which 16.2% of respondents chose. Meanwhile, only 5.9% chose to sell when the price falls below $3,000 and 5.8% chose to sell when the price drops below $1,000.

72% of Investors Will Hold Bitcoin Even if Price Falls to 0

“Super proud that 72% of my followers are hard core hodlers,” Plan B commented on the outcome. “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 $1 million BTC, it is worth it (the option argument).”

Some people volunteered their reasons for hodling BTC even if the price spirals downward. “I’m bullish on bitcoin. 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,” one Twitter user wrote. Another noted that when bitcoin becomes “the defacto global reserve there is no reason to sell, only to use.”

Some argued that it is “highly unlikely” that the price of bitcoin would not increase while others said they will “buy the dip,” scooping up cheap BTC if the price tanks. At the time of this writing, the price of bitcoin stands at $12,251.

1596028306 408 Power Plants in Iran Now Authorized to Mine Bitcoin1597173073 593 Billion Dollar Public Company Microstrategy Moves 250 Million Into BTC

Last month, gold bug Peter Schiff conducted a similar survey. “How much longer does the price of bitcoin have to say below $10,000 before you will throw in the towel and sell?” Schiff asked his followers. Out of 28,168 total votes, 57.5% of respondents chose “I’m taking it to my grave.”

Investors’ faith in the price of bitcoin has been growing as evidenced by two other polls Plan B conducted, one in July and the other in August. In both polls, Plan B asked his followers what they thought the price of bitcoin will reach before December this year. In July, 43% of respondents believed that the price would stay below $55,000, but in August only 30% believe this to be the case. A significantly larger portion of respondents in the August poll believe that the price of bitcoin will reach $288,000.

Meanwhile, a growing number of institutional investors are buying bitcoin. Nasdaq-listed company Microstrategy announced last week that it had purchased $250 million worth of bitcoins. Recently, the U.S. Office of the Comptroller of the Currency (OCC) clarified that national banks and federal savings associations are authorized to provide custody services to customers.

How far does the price of bitcoin have to fall before you sell? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Plan B, Twitter

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
473FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,581FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.16
GBP
1.28
CHF
1.08
NOK
0.10
JPY
0.01
CAD
0.75
AUD
0.71

Most Popular

Defi Token Exposed as Pump and Dump Scam in Leaked Telegram Chat 

A leaked Telegram discussion by 50 so-called crypto influencers has exposed the extraordinary steps they take in order to profit on the...

trader says 23 factors show a rally is due

A pseudonymous Bitcoin (BTC) trader outlined 23 key technical and fundamental factors that could buoy BTC’s medium-term bull case.The data points shared by...

The new Synthetix Stats website is now live!

The new Synthetix Stats website is now live! You've successfully subscribed to Synthetix Blog Great!...

The OCC’s Stablecoin Statement Is a Seed of Financial Innovation

An unsurprising statement from a financial regulator is sending some welcome signals that point to a spurt of innovation ahead.The U.S. Office of...
bitcoin
Bitcoin (BTC) $ 10,878.91
ethereum
Ethereum (ETH) $ 357.89
ripple
XRP (XRP) $ 0.243766
tether
Tether (USDT) $ 0.999562
bitcoin-cash
Bitcoin Cash (BCH) $ 228.91
bitcoin-cash-sv
Bitcoin SV (BSV) $ 169.70
litecoin
Litecoin (LTC) $ 46.46
eos
EOS (EOS) $ 2.59
binancecoin
Binance Coin (BNB) $ 26.49
okb
OKB (OKB) $ 6.19
tezos
Tezos (XTZ) $ 2.22
leo-token
LEO Token (LEO) $ 1.25
cardano
Cardano (ADA) $ 0.103562
monero
Monero (XMR) $ 97.57
stellar
Stellar (XLM) $ 0.073942
chainlink
Chainlink (LINK) $ 10.67
huobi-token
Huobi Token (HT) $ 4.63
tron
TRON (TRX) $ 0.026690
usd-coin
USD Coin (USDC) $ 0.999703
dash
Dash (DASH) $ 68.98
neo
NEO (NEO) $ 20.81
iota
IOTA (MIOTA) $ 0.262496
nem
NEM (XEM) $ 0.120752
zcash
Zcash (ZEC) $ 56.72
maker
Maker (MKR) $ 516.35
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.46
vechain
VeChain (VET) $ 0.013324
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.63
kucoin-shares
KuCoin Shares (KCS) $ 0.836726
waves
Waves (WAVES) $ 2.48