Study Findings Show 83.7% of Luno Users Are Bullish on Bitcoin’s Resurgence

Study Findings Show 83.7% of Luno Users Are Bullish on Bitcoin’s Resurgence

About 83.7% of those surveyed by Luno in a recent study believe the price of bitcoin will rise significantly in the next few months. In fact, 59.4% of the more bullish respondents are expecting the leading crypto to rise to as much as $100,000.

Bullish Beyond Bitcoin

These are the findings of Luno’s Q3 Customer Sentiment Survey that was conducted between August 20 and September 20. A total of 1,870 customers of Luno cryptocurrency exchange from South Africa, Malaysia, Indonesia, and the U.K. participated in the study.

Aside from bitcoin, study participants were also asked to share their thoughts about the prospects of altcoins like ETH, XRP and BCH. As the study findings suggest, many of the respondents across the four countries are similarly bullish on altcoins as well.

South Africans Less Bullish on ETH

However, it would appear that Luno customers in the U.K. and Malaysia are more bullish on such cryptos as ETH than their counterparts in South Africa. The exchange’s blog explains:

“While 64.5% of our South African users are most optimistic about bitcoin, ethereum is second at 55.4%, followed by XRP (28.6%), bitcoin cash (25.9%) and litecoin (17.8%). Meanwhile, although Malaysian and British customers both share strong enthusiasm for bitcoin, they’re most optimistic about ethereum. Nearly 70% of Malaysian customers are feeling optimism for ethereum, with 75% of investors in Great Britain sharing the same sentiment.”

Concerning customers’ understanding of cryptocurrencies as a long-term investment, the study found that 38% of respondents intend to hodl their investments. While 28% of the respondents do consider themselves day traders, the blog still concludes that “the idea of bitcoin as something you’re in the long haul for seems to have certainly taken root.”

What are your thoughts on the findings of this study? Tell us what you think in the comments section below.

Did you like this?
Tip Bitcoin Tradeboard with Cryptocurrency

Donate Bitcoin to Bitcoin Tradeboard

Scan to Donate Bitcoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate Bitcoin Cash to Bitcoin Tradeboard

Scan to Donate Bitcoin Cash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate Ethereum to Bitcoin Tradeboard

Scan to Donate Ethereum to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Ether:

Donate Litecoin to Bitcoin Tradeboard

Scan to Donate Litecoin to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate Monero to Bitcoin Tradeboard

Scan to Donate Monero to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some Monero:

Donate ZCash to Bitcoin Tradeboard

Scan to Donate ZCash to Bitcoin Tradeboard
Scan the QR code or copy the address below into your wallet to send some ZCash: