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US investors plan to "HODL" Bitcoin until the price hits $ 196,000

When would an average investor leave Bitcoin completely? A new survey of Americans indicates a price of $ 196,000

Methodology of the survey

LendEdu commissioned in November 2017 a survey of 564 Americans having invested in Bitcoin. While polls have been conducted in the past to gauge public awareness of Bitcoin, this survey focused on American Bitcoin investors and their feelings. We came a long way from 2015, when 65% of Americans surveyed did not know what Bitcoin was. The questions asked in the survey ranged from their reasons for investing in Bitcoin to when they would sell all their Bitcoins.

Sell all your bitcoin?

The average price at which respondents to the survey said they will sell all their Bitcoins at $ 196,166 per Bitcoin. This represents 30 times the Bitcoin value in effect at the time of the survey. It should be noted that this is the price at which respondents will sell all their Bitcoins. Nearly a third (32.62%) have sold some of their Bitcoins since they started investing. It is tempting to account for profits, as the price of bitcoin recovered last year

Most respondents plan to keep their Bitcoins for at least a year, with only 16 49% planning to sell sooner than that. According to the survey, 21% of Bitcoin investors plan to keep their coins for at least seven years, and 11.7% say they keep the change for 10 years or more.

Value Bank or Speculative Investment

While experts question the question of whether people invest in Bitcoin because they treat it as a stock of value or as a speculative investment, the results of the survey indicate something completely different. According to LendEdu:

"The most popular selection, chosen by 40.78% of respondents, was" I believe that Bitcoin is a technology that changes the world. "It is interesting to see that The plurality of Bitcoin investors support technology as the main reason for investing.Often, finance professionals speculate that Bitcoin investors are looking for a big dividend. "

It seems that the opponents are wrong, and they are not just "big idiots". Instead, American Bitcoin investors are apparently sophisticated enough to realize the value of the project's technology.

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The second group of respondents sees Bitcoin as something analogous to the digital gold:

second most popular reason why investors liked Bitcoin, chosen by 21.81 percent of respondents, was for the possibility of long-term storage of the value of it. Many financial professionals often compare Bitcoin to precious metals like gold, silver and platinum. For centuries, investors have used precious metals to diversify away from the currency backed by the government. "

Worried about Security

Another big point to remember from the survey%) respondents worried about the technological security of their Bitcoins. Not surprisingly, given high-profile cases such as Mt. Gox, this exchange, the largest in the world in volume, went bankrupt and its former CEO was arrested in Japan on charges of misappropriation of funds. He pleaded guilty not guilty.

In addition to the unfortunate Mount Gox, many other exchanges have encountered security problems.Several exchanges have been hacked and Bitcoins of their customers have been lost. Bitcoin holders can follow certain practices such as keeping their Bitcoins in cold storage to increase security, the survey shows that ordinary investors continue to worry about the security of their coins. [194] 59006]