CNBC Survey Suggests Bitcoin Value Could Reach Five Digits

The bitcoin has risen in value dramatically in recent time and has particularly reached the $6,000 threshold in recent time. A recent survey completed by CNBC suggests that the market is currently bullish on the bitcoin.

Nearly half of the people who completed the survey said that the bitcoin would reach a value of at least $10,000 in the future. Around 23,000 people were contacted for the survey.

But the survey also reveals a slight bit of division between people in terms of how the bitcoin will work. About a third of the people who took the survey feel that the bitcoin is still a terrible investment to get into and that it is far too risky.

Specific Results

49 percent of people who took the survey said that the bitcoin would reach $10,000 or greater in value in the future.

16 percent said that the bitcoin would stay in a value from the $6,000 to $8,000 range. This would suggest that the value would not change all that much but would still be strong.

The remaining 35 percent voted for the third option. The option suggested that JPMorgan Chase CEO Jamie Dimon is correct in that people will end up paying the price for investing in the bitcoin. Dimon has been an extremely harsh critic of the bitcoin in recent time.

The results suggest a strong sense of division between the people who are investing in the currency. There are plenty of people who have a strong interest in the currency while many others are avoiding it out of fear that there could be a dramatic crash in its value over time.

Rising Values

The survey comes amid the ongoing rise in the value of the bitcoin. It had been available for less than $1,000 earlier this year but its value has increased dramatically thanks to the added interest among investors and banking institutions with reads to the currency. The currency has also been supported by many international markets with Japan particularly leading the way.

Michael Novogratz, the prominent hedge fund manager, stated in a recent interview that he expects the bitcoin to get to a five-digit value total within the next year. This remark has been heavily supported by many investors who are hoping the cryptocurrency will continue to grow and thrive.

But there are concerns that the cryptocurrency might be in the middle of a bubble. This comes amid some criticism that much of the rise of the bitcoin has been due to speculation and that the bitcoin’s value could be at risk of plummeting in the future. Goldman Sachs also said recently that the bitcoin is not expected to become a real currency as it is not necessarily supposed to be compared with gold among other investment options.

This recent survey gives the impression that the potential for the bitcoin to keep growing is very strong and that people are looking forward to seeing how well it will thrive. But there are still worries among many over how well the currency can grow or even if it is at risk of breaking down and becoming less valuable.

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