Poll: What Exactly is Driving the Bitcoin Price?
BTCC China CEO Bobby Lee’s latest Twitter poll has cast light on the meteoric rise of Bitcoin price by over 1,000 times in just six years. ‘Global, Decentralized’ Nature Behind Bitcoin Success. With a market capitalization of over $20 billion as of 2017, respondents see Bitcoin’s “global and decentralized” nature as the main factor behind its success. 52% of the 1,300 takers of the survey selected the option, with 32% considering the digital currency being a “new store of value choice” as the principal reason. Speculation Influencing Bitcoin ‘Value’. While Lee received criticism for only....
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Bitcoin enthusiasts are once again bullish on the digital currency's price potential. A new CoinDesk poll has found that 48% of respondents believe that bitcoin will end the year valued at more than $500. That's not to say that others weren't more bearish. Some 38.7% of bitcoin enthusiasts think the digital currency's price will end 2015 at or near its current levels, with 4,370 of the 11,293 respondents predicting that bitcoin would be valued at between $351-$500 by this time. Thirty-three percent of those surveyed think that the digital currency's price would rise to $501-$1,000 by 31st....
2013 saw the price of bitcoin go from $13 to $266, then to almost $1,200 on the back of strong growth in China. There was a correction, as the Chinese government implemented policies to make bitcoin trading much more difficult, but the digital currency has since rallied and shown significant resilience in the face of adversity. Many believe the price of bitcoin will increase in 2014, with some Wall Street analysts even predicting it could reach almost $100,000 at some point. But what do you think will happen to the price in the coming year? Do you think the bitcoin price will hit $10,000....
Just how important is the price of bitcoin? The question could be considered subjective, and that's why it was the topic of last week's poll (which you can find in the lower right-hand corner of all pages). So, getting right to it, it would appear that the price of bitcoin is a big deal compared to really not mattering. Of 134 total votes, about 64 percent of voters said the price of bitcoin "is a huge deal". That equates to 86 votes. (Hopefully we'll get a higher volume of responses on the next one.) The other 36 percent of voters said the price of bitcoin "doesn't really matter", which....
On Friday, the price of bitcoin reached its highest level so far this year, peaking at $333.75 on the CoinDesk Bitcoin Price Index. The price opened the day at $313.31 before rising 6.5% to $333.75 at 08:16 (UTC). Industry insiders put the price rise down to a number of factors, with Bobby Lee, CEO of bitcoin exchange BTCC, citing recent positive news events as being behind the movement. Academic Robert Viglione suggested the price increase could be due to Chinese citizens moving more of their wealth into cryptocurrencies as their government tightens capital controls. Whatever the reason,....
A recent poll completed by the Public Opinion University Institute, part of the Simeon Canas Centroamerican University, has found that El Salvador is still not attracted by the idea of bitcoin as legal tender. The poll results indicate that almost two-thirds of the population has a negative impression of bitcoin, with only a quarter of Salvadorans having used the cryptocurrency. El Salvador Still Cold on Bitcoin Adoption While El Salvador made bitcoin legal tender last year, being the first country in the world to do so, Salvadorans are still not completely sold on the idea of introducing....