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According to a new survey published by Bitcoin IRA, many crypto users and enthusiasts believe bitcoin will surge past the $8,000 mark again in the next 90 days.
Bitcoin IRA Suggests Positive Sentiment
Bitcoin IRA is a company that allows individuals with retirement accounts to invest in digital assets such as bitcoin, Ethereum and bitcoin cash. While the notion of investing one’s retirement funds into digital assets can be a bit scary given their volatility – this is, after all, the money you’re going to live on during your old age – Bitcoin IRA has worked hard to ensure users remain interested and that crypto investments become more mainstream.
Among the company’s recent tactics to attract new investors and appease long-term customers has been to lower fees in 2020 by a whopping 25 percent, thereby allowing customers to keep more money in their pockets, so should volatility every strike again – as it’s done during the past few weeks – users are likely to be less affected.
Recently, the venture created what it’s calling an “Investor Sentiment Poll.” The study suggests how investors likely feel towards the world’s present market conditions and what they think the future holds. The greater majority of those taking part in the study say that bitcoin is likely to rebound heavily in the coming weeks and should be back above $8,000 within the next three months, accounting for an increase of approximately 30 percent.
Thus far, the cryptocurrency is ringing true to this sentiment. After several hardcore drops brought on by fear and panic due to the coronavirus, bitcoin has experienced a solid surge from the low $5,000 range to about $6,200 at press time, meaning it’s gained more than $1,000 in roughly 48 hours.
COO of Bitcoin IRA Chris Kline explained in a statement:
This research shows that investors are optimistic that cryptocurrency prices will rebound despite the unpredictable financial landscape and the uncertain health crisis. The aggressive monetary and fiscal policies pouring out of central banks and governments, coupled with bitcoin’s upcoming ‘halving’ should only shift more attention from the devaluing of the U.S. dollar to harder, sounder money alternatives, such as bitcoin.
Keeping the Faith in Crypto
Other data to emerge from the survey also suggests that more than 80 percent of participants believed right now was the time to buy bitcoin and add to one’s crypto stash. In addition, 67 percent of those taking part believe that crypto was a stronger investment than stocks, while about 35 percent said that they planned to add at least $5,000 worth of BTC to their IRA’s in 2020.
The past six months have been huge for Bitcoin IRA. The company partnered with Genesis Capital to give users more interest on their crypto holdings. Executives also added facial recognition technology last September to ensure accounts remained secure.