Bitcoin at $100,000 possible or impossible, according to Benzinga survey

Bitcoin at $100,000 possible or impossible, according to Benzinga survey

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage their personal portfolios.

The following question was asked by 1000 Benzinga visitors on the topic of cryptocurrencies trading and investing : Bitcoin BTC USD at $100,000 or Doge coin DOGE USD at $1?

Here are the full results from this week's survey:

Is Bitcoins at $100,000 possible or impossible?

As the price ofBitcoin fluctuates, many people wonder if it will reach $100,000 in 2022?

It is very hard to predict its future price because of the volatile asset that is considered one of the most volatile assets to trade.

If the previous market cycles price actions are 61% at around $29,750, one way to examine if it is possible to go to $100,000 is to look at the previous market cycles price actions. Over the past month, the price of digital currency has fallen by over 24.47%.

Doge coin is higher by 0.85% at $0.085 Sunday. Doge coin has been trading lower for the past month, down 37.35%, along with the broader criptocurrency market.

This survey was conducted by Benzinga in May 2022 and included the responses of a diverse population of adults 18 or older.

There was no incentive for potential respondents to join the survey, so opting into the survey was completely voluntary. More than 1,000 adults participated in the study.