After increasing in value more than 1,600 percent in 2017, a single bitcoin is worth more today than it ever has and that has many potential investors excited about the future. They’re so optimistic that more than three-quarters of those quizzed in a recent survey by Lendedu believe that 2018 will see even greater returns on investment in the cryptocurrency.
Bitcoin is in an interesting place at the moment. After a year of incredible growth, some believe it is poised on the precipice of a dangerous bubble, while some see its future as certain of success. While there are certainly many economists who caution against investing, and we at Digital Trends would want you to be as educated as possible before doing so, Lendedu’s survey from early November, suggests most existing investors are extremely bullish on bitcoin’s future.
Of the 565 bitcoin investors surveyed, all aged 18 or over, 77 percent said that they expect to see returns on bitcoin investment in 2018 exceed those in 2017. To give that some context, that would mean a single bitcoin being worth more than $250,000 by the close of 2018. That would be of surprise to even many of the most ardent bitcoin supporters, with more conservative estimations suggesting bitcoin could reach such figures by 2021.
Still, perhaps that confidence is why a full 40 percent of those polled claimed that they do not plan to sell any bitcoin in 2018. The results were a little more even on that question however, as more than 30 percent said that they would sell in 2018. With projected profits like those expected by the survey participants, you could hardly blame them.
Almost three-quarters of those polled by Lendedu said they would be looking to increase their investment in bitcoin in 2018 though, so even if some coins are sold, the majority of investors are looking to double down on existing investments.
One of the key concerns by a number of bitcoin investors and commenters is whether government regulation could halt bitcoin’s growth in the U.S. and emerging markets. With that in mind, it’s perhaps no surprise that almost half of those surveyed said that did not think the government should regulate bitcoin in 2018.
Although we would certainly suggest any potential investors take the confident claims of this report with a pinch of salt, if they have you interested in buying bitcoin yourself, make sure to read our guide on how to buy your first bitcoin.
- How to mine Bitcoin
- The best bitcoin alternatives
- Dozens of major Twitter accounts hacked in massive Bitcoin scam
- Ethereum vs. Bitcoin: What’s the difference?
- Facebook Libra vs. Bitcoin