New survey data shows some of the factors driving investors to purchase Bitcoin.
A new report published by LendEDU asks 564 Bitcoin owners when they willsell. 40% said they bought Bitcoin because they believe it's a world changing technology.
21% said because Bitcoin is a long term store of value like gold or silver.
The average price when the Bitcoin holders would consider selling their Bitcoin? $196,165 USD.
On average, investors own just under $3,000 in Bitcoin, which makes me almost shit my pants..because I've gone so hard into Crypto currencies in comparison.
But, if people want Bitcoin to hit 200K it will hit 200K. That's the beauty of the markets. Unless we see some game changing regulations, I still believe we will see prices near $50,000 next year.
Oh, and congratulations to you all. $8012 USD on Bitfinex. I made a great trade when I sold some of my BCH at around $1300 and bought Litecoin and IOTA.
I also bought some Bitcoin gold. Not because I have so much faith in it nescesarily, but because I think we will see a pump and dump at least. So a very small percentage into Bitcoin Gold. Let's see how it turns out.