President and co-founder of MicroStrategy Michael Taylor has generated excitement within the crypto community by launching a survey that asks: “How quickly do you expect BTC to appreciate annually in USD over the next ten years?” The results reveal strong bullish sentiment among respondents, suggesting that a major price boom is coming for Bitcoin.
President and co-founder of MicroStrategy Michael Taylor has generated excitement within the crypto community by launching a survey that asks: “How quickly do you expect BTC to appreciate annually in USD over the next ten years?” The results reveal strong bullish sentiment among respondents, suggesting that a major price boom is coming for Bitcoin.
These results indicate that nearly half of respondents are extremely optimistic about the future of Bitcoin, anticipating a substantial annual appreciation that could see the cryptocurrency reach unprecedented levels.
According to the survey results, 22.4% of participants foresee a constant increase of 10% to 19% annually. Meanwhile, 18% are even more optimistic, predicting an annual increase of 20% to 29%. A hopeful 10.8% of respondents anticipate an increase of 30% to 39% each year. However, it is the majority, a whopping 48.8%, that forecast a staggering 40% annual appreciation for more than a decade.
Tomiwabold OlajideThis sentiment comes at a time when Bitcoin is experiencing a significant decline, having extended its fall close to $60,000, a stark contrast to hopeful predictions.
Bitcoin recently extended its decline to lows of $60,581 in early trading sessions today, following one of the worst weeks for the cryptocurrency in 2024. At press time, Bitcoin was trading at $61,076, marking a more than one-month low and approximately 6% drop.
Losses are piling up in the cryptocurrency market following its second-worst weekly decline in 2024, reflecting lower demand for Bitcoin exchange-traded funds and concerns about monetary policy. The cryptocurrency drop comes amid concerns about the Federal Reserve’s scope to quickly reduce interest rates from a two-decade high.
Bitcoin hit an all-time high of $73,798 in mid-March, but is lagging behind traditional investments like stocks, bonds and gold this quarter.
As the crypto community monitors Bitcoin’s price movement in the near term, Saylor’s survey reflects expectations for Bitcoin’s growth over the next decade.
