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The wild swing of the crypto market has become quite hard to predict, but a lot of optimistic and pessimistic views on the future of the market have become very significant. A recent Twitter poll by PlanB, an institutional investor, highlights the fact that the majority of the voters think that Bitcoin will hover below $500k ($500,000) in the next five years.
Next 5 year #bitcoin price will stay below:
— PlanB (@100trillionUSD) May 22, 2022
The poll also reveals the least percentage of voters believe that BTC will stay below $30K, as it is now. Moreover, 30.4% of voters opted for below $100K, whereas 18.9% of voters believe it will stick to below $1 million. A total of 134,812 people voted in the poll.
Interesting poll results: 81% thinks #bitcoin stays below $500K next 5 years.
— PlanB (@100trillionUSD) May 23, 2022
S2F model predicts $500K+ average after 2024 halving.
Very similar to March 2019 when I published S2F model and BTC was below $4K. Majority thought S2F prediction of $55K after 2020 halving was crazy. pic.twitter.com/ZNzz8ofL1d
If BTC should rise to $500K in the next five years, it must frequently move through uptrends, and more importantly, the stablecoins should not collapse, as it directly affects the value of all the cryptos.
However, as of now, BTC alone has reached $30,427.25, which is a slight uptick from the past two week’s market condition. Also, for the past few days, BTC was hovering at $30,000. To note, the coin could not move above $50,000 since December 2021. Despite the BTC price moving like waves, many crypto experts say that its price will tap at $100,000 this year.
Significantly, the price dip of TerraUSD has put most of the cryptos in distress. Earlier, the coin was trading 99.9% low, causing tension among the crypto-traders. Contrastingly, now Terra is 13.12% high, with a price of $0.0001995. Currently, the global market cap is $1.3 trillion, which is a 1.22% up over the last day.