The results of a survey show that bitcoin investors are expecting six-digit prices for this digital currency and do not intend to sell their assets until they reach this price.
To Report Cryptopotito, the digital currency market, has seen significant growth in recent months, bringing huge profits to investors. Meanwhile, the price of Bitcoin and several other digital currencies have been able to record new historical highs with successive record-breaking.
Recently, a number of digital currency analysts conducted a Twitter poll to ask market participants when they want to cash in on their trading positions and sell their bitcoins.
Meanwhile, the price of bitcoin, although falling by several thousand dollars, has experienced at least a 10 percent growth since the beginning of this year. This has sparked controversy among market participants, who are each seeking an answer to the question of when do the majority of the market sell their digital currencies?
Josh Rager, a well-known digital currency analyst, asked users on Twitter:
How many bitcoins do you want to sell at the next price peak?
Interestingly, 34.4% of respondents said that at the next price peak, if they did not sell all of their bitcoins, they would sell most of their bitcoins.
However, 31.6% of respondents said they cash less than a quarter of their bitcoins at the next price peak.
Although some claim that many bitcoin investors intend to hold on to their assets even after the next price peak, others say that each price cycle has its ups and downs. Hence, they advise even the most stubborn Hoodlers to profit from the market by cashing in their bitcoins in appropriate situations.
Filb Filb, another well-known digital currency analyst, sent a survey asking users what price targets they have for selling their bitcoins. He tweeted:
What price range can make you think deeply about selling your bitcoins?
Most of those who have responded to Philip Philip have said that when the price of bitcoin reaches the six-digit range, they will consider selling part of their bitcoins. More than 40% of respondents, however, cited the $ 100,000 to $ 300,000 price range as their preferred price range, and 26.3% of users said that by the time the Bitcoin price crossed the $ 300,000 threshold They do not sell it.
Alex Saunders of the Nuggets news site, Alex Saunders, is generally opposed to the idea of setting a currency-based price range for selling bitcoins, especially in this economic period. He says:
Those who have truly understood Bitcoin know that there is no equivalent currency value for it; This is while the government is increasing at least 30% of the money supply (M1) and liquidity (M2) in the market. Unless, of course, you are considering the price of a tangible asset that is very valuable to you personally as a benchmark, instead of the current currency equivalent of Bitcoin.