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Investing.com Poll: Do You Think Bitcoin Will Break Above $20K Before The End Of The Year?

By Investing.com Blog - Inside Investing

For our latest social media poll, which ran both on Investing.com’s Facebook and Twitter accounts last week, we asked our users:

Do You Think Bitcoin Will Break Above The $20,000-Level Before The End Of The Year?

Bitcoin has been on a tear this year, with prices of the world’s most valuable cryptocurrency rallying more than 200% to their highest levels in about 18 months.

It was last at $11,764.00 on the Bitfinex exchange as of 8:30AM ET on Thursday. It rose to its best level since January 2018 at $13,764.00 on June 26, after having started the year at around the $4,000-level.

While prices have yet to rebound anywhere near an all-time high around $20,000, Bitcoin's impressive rally has sparked hopes among crypto enthusiasts that a new bull run is getting started after it ended last year down more than 73%.

Breaking Down The Results:

Surprisingly, the poll results showed that most thought Bitcoin will end the year below the $20K-level.

Overall, when taking votes from both Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) into account, 54.5% of users thought Bitcoin will fail to reach the key $20,000-mark, while 45.5% said Bitcoin will power ahead to new highs by the end of the year.

Facebook

Out of the 1,480 votes recorded on Facebook, 851 users, or 57.5%, said prices of the world’s biggest digital currency will end 2019 below $20,000.

On the other hand, 629 users, or about 42.5%, voted that Bitcoin will surge above $20K.

Twitter

The results we saw on Investing.com’s Twitter account showed a much closer picture.

Of the 540 votes recorded, 275 users, or around 51%, said Bitcoin will close the year below $20K.

Meanwhile, 265 users, or 49%, thought it will manage to settle above that level on December 31, 2019.

Behind The Numbers:

Jesse Cohen, Investing.com’s Global Markets Analyst, said the cryptocurrency’s technical levels are “looking much better” since prices broke above a bull cross for the first time in almost four years.

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Comments (1)

mikesem Aug 02, 2019 3:23AM ET

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Bitcoin's popularity is declining, this is my opinion, or cannabis has overshadowed its popularity, but many investors are looking at the cannabis industry, legalizing cannabis and its popularity is a new and very attractive market wh ich is at start.

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