How High Will Bitcoin Go?
43.7% of crypto participants expect Bitcoin to exceed $100,000 this cycle, indicating that the market has relatively high expectations for the largest cryptocurrency. The next most popular Bitcoin price prediction was the $91,000 to $100,000 range, selected by 17.0% of survey respondents. On the other hand, 15.0% took a bearish view predicting that Bitcoin will only go as high as $75,000 this cycle.
The remaining 24.3% of participants had more conservative expectations for Bitcoin, predicting that it will rise to between $76,000 and $90,000.
Notably, crypto participants with more experience seemed to have higher expectations for Bitcoin: 50.5% of 2nd cyclers and 51.8% of veterans predicted that Bitcoin will go above $100,000, compared to just 35.2% of newcomers in their 1st cycle.
Crypto newcomers had lower expectations for Bitcoin with 30.9% predicting a peak price of $80,000 at most this cycle, whereas only 16.1% of 2nd cyclers and 19.8% of veterans shared the same prediction.
| Bitcoin Price Prediction | 1st cyclers | 2nd cyclers | 3rd cyclers & above |
|---|---|---|---|
| $71,000 - $75,000 | 19.2% | 10.2% | 15.7% |
| $76,000 - $80,000 | 11.7% | 5.9% | 4.1% |
| $81,000 - $85,000 | 7.9% | 6.5% | 6.5% |
| $86,000 - $90,000 | 9.0% | 9.8% | 5.3% |
| $91,000 - $100,000 | 17.0% | 17.2% | 16.6% |
| >$100,000 | 35.2% | 50.5% | 51.8% |
Investors were again the most optimistic, with 49.4% or almost half predicting Bitcoin will go higher than $100,000 in the current cycle. In comparison, a lower 33.9% of traders, 32.6% of builders and 22.4% of spectators predicted the same.
In particular, spectators had the lowest expectations for Bitcoin, with the highest share of 31.5% predicting Bitcoin will only go as high as $75,000.
| Bitcoin Price Prediction | Investors | Traders | Builders | Spectators |
|---|---|---|---|---|
| $71,000 - $75,000 | 11.6% | 18.9% | 22.5% | 31.5% |
| $76,000 - $80,000 | 6.0% | 11.2% | 16.0% | 16.4% |
| $81,000 - $85,000 | 5.9% | 10.6% | 8.0% | 9.7% |
| $86,000 - $90,000 | 8.8% | 10.1% | 9.1% | 5.5% |
| $91,000 - $100,000 | 18.3% | 15.2% | 11.8% | 14.5% |
| >$100,000 | 49.37% | 33.92% | 32.62% | 22.42% |
How High Will Ethereum Go?
Unlike with Bitcoin, crypto participants had rather mixed expectations for Ethereum price. 20.6% of survey respondents predicted that Ethereum will peak above $10,000 in the ongoing cycle, making it the most popular view but only by a narrow margin. On the other end of the range, 19.2% predicted that Ethereum will only go as high as $5,000 at most this time.
The least popular prediction was that Ethereum will peak between $8,000 to $9,000, which 10.6% of survey respondents chose. However, this came in close behind the $6,000 to $7,000 range (predicted by 11.4% of respondents) and $9,000 to $10,000 range (11.7% of respondents).
As such, there seems to be a lack of consensus on how Ethereum will perform this time, possibly arising from the Ethereum layer 1 narrative dispersing into its broader ecosystem.
How High Will Solana Go?
In contrast to Bitcoin, crypto participants expressed somewhat conservative views on Solana’s potential price gains. The survey found that 24.9% of crypto participants expect Solana will only go as high as $300 this cycle, making that the most popular prediction for the Ethereum competitor. In other words, these participants do not expect Solana to peak significantly above its existing all-time high price set in the last bull run.
The second most popular Solana price prediction was the $300 to $400 range, which was predicted by 14.7% of respondents. That said, the other price ranges followed close behind, with 4.6% to 12.6% share of respondent predictions. This suggests that although 3 in 4 participants have relatively higher expectations for Solana’s price, there does not appear to be a more specific agreement on the target.
Crypto Price Predictions
The most to least popular predictions for how high Bitcoin will go this cycle are ranked as follows:
| Rank | Bitcoin Price Prediction | Survey Respondents |
|---|---|---|
| 1 | >$100,000 | 43.7% |
| 2 | $91,000 - $100,000 | 17.0% |
| 3 | $71,000 - $75,000 | 15.0% |
| 4 | $86,000 - $90,000 | 8.8% |
| 5 | $76,000 - $80,000 | 8.3% |
| 6 | $81,000 - $85,000 | 7.1% |
The most to least popular predictions for how high Ethereum will go this cycle are ranked as follows:
| Rank | Ethereum Price Prediction | Survey Respondents |
|---|---|---|
| 1 | >$10,000 | 20.6% |
| 2 | $4,000 - $5,000 | 19.2% |
| 3 | $5,000 - $6,000 | 14.0% |
| 4 | $7,000 - $8,000 | 12.6% |
| 5 | $9,000 - $10,000 | 11.7% |
| 6 | $6,000 - $7,000 | 11.4% |
| 7 | $8,000 - $9,000 | 10.6% |
The most to least popular predictions for how high Solana will go this cycle are ranked as follows:
| Rank | Solana Price Prediction | Survey Respondents |
|---|---|---|
| 1 | $200 - $300 | 24.9% |
| 2 | $300 - $400 | 14.7% |
| 3 | $400 - $500 | 12.6% |
| 4 | $500 - $600 | 12.0% |
| 5 | >$1,000 | 10.6% |
| 6 | $600 - $700 | 7.7% |
| 7 | $900 - $1,000 | 6.9% |
| 8 | $700 - $800 | 5.9% |
| 9 | $800 - $900 | 4.6% |
Methodology
The study examined 2,558 crypto participants’ responses in the anonymous CoinGecko Post-Halving Sentiment Survey from June 25 to July 8, 2024. Survey results should be taken as indicative only.
Among the survey participants, 69% considered themselves as crypto investors with mainly long-term holdings, 18% identified as traders with mainly shorter-term holdings, 7% as builders and 6% as sidelined spectators. In terms of how long participants had been in crypto, 46% were in their first cycle (0 to 3 years in crypto), 41% in their second cycle (4 to 7 years) and the remaining participants were veterans with 8 or more years of experience. Geographically, 90% of participants stated that they were based in Europe, Asia, North America and Africa, while the rest were in Oceania or South America.
This study is for illustrative and informational purposes only, and is not financial advice. Always do your own research and be careful when putting your money into any crypto or financial asset.
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Curious to find out more about our findings from the CoinGecko Post-Halving Sentiment Survey 2024? Check out this one we did on whether the crypto bull run is over.
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