Yesterday Lendo posed another ‘poll’ question to its Twitter followers. The question was — will Bitcoin crash or rise?
It was an interesting question to ask followers at this precise moment, because while the leading cryptos have recovered somewhat from the bloodbath we saw in March, we are not quite out of the woods yet, and there is certainly no sign of a determined bull run happening this week at least.
So, how did Lendo members vote?
Clearly, Lendo’s members are an optimistic bunch who believe in the future of cryptocurrency, because and whopping 69% voted for Bitcoin rising. Of course, the question didn’t specify when it might rise by, but it seems that the predictions of people like Ton Lee and his firm Fundstrat, who see it moving up to $25,000 by the end of 2018. He also thinks it could rise to $125,000 by 2022, which if he is proved right means we should all run out and buy some Bitcoin now, because that is only four years away.
Fundstrat is saying that July 2018 is the month to keep your eye on. The analysts say that after July, the Bitcoin recovery will be fierce and even those who are less bullish believe July will see the end of the current rollercoaster and this is when Bitcoin should start to see consolidation and growth, even if it isn’t quite as meteoric as Tom Lee suggests.
On the downside
But what about the 31% of Lendo voters who thought Bitcoin will crash? There is always someone who will burst your balloon and Kristjan Dekleva, a Swiss financial expert thinks it will take 10 years for BTC to reach stability. And Kenneth Rogoff, former chief economist at the International Monetary Fund isn’t a fan at all, because he said that Bitcoin’s value would be closer to $100 than $100,000 in 10 year’s time. He bases his claim on governments rising against cryptocurrency, but if you look at recent government announcements in the blockchain arena, it seems like the majority are trying to be more positive about crypto and the idea of imposing blanket bans is last year’s news.
Overall, the crypto pundits are more overwhelmingly supporting a rise in Bitcoin, which means Lendo’s voters are in good company.