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2020 Optimism: Bitcoin To Record New All-Time High This Year, The Majority Thinks



The majority of voters in a recent poll think that Bitcoin will surpass its all-time high of $20,000 in 2020. This comes just one day after an impressive price surge of almost 8%, confirming the generally positive sentiment in the community.

2020 – A New BTC ATH?

The cryptocurrency market experienced a serious price increase yesterday, as the total market cap surged by nearly 10%. Bitcoin was among the leaders in the move, recording a 7.5% gain throughout the day that took it from $8,100 to above $8,800 at one point.

As a matter of fact, this is not an isolated price increase. Bitcoin has been on quite the positive run of 18% since the start of 2020. Consequently, most of the community seems to think that the bullish trend will continue this year, according to a recent poll conducted by the popular trader – Alex Kruger.

Twitter Poll

A little more than 4,000 people have voted so far with still 3 hours left. As of now, 47% of them believe the all-time high of $20,000 will be broken. Another 28% consider that this year’s high will be somewhere between $14,000 and $19,999. The other two options in the poll are $11,500-$13,999 and below $11,499. They gather 10% and 15% of the votes, respectively.

Whenever a radical price movement occurs, it’s understandable that people’s beliefs might follow along. For instance, back in September, Bitcoin had lost $2,000 in just a few days, and another poll indicated that negativity was the key sentiment at that point. 72% voted that BTC will continue to drop. Yet, the largest crypto tends to do often the exact opposite of what people expect, and less than a month later, it skyrocketed by 40%.

Fear And Greed Change

In addition to the market sentiments, one could also consider the popular measuring service – the Fear and Greed index. It provides aggregated data based on the most recent volumes, volatility, Bitcoin movements and dominance, social media, and, in fact, surveys.

Crypto Fear & Greed Index on Jan 15, 2020

Crypto Fear & Greed Index on Jan 15, 2020

The index displays that the current sentiment is at 54, which a neutral zone in the middle between fear (below 45) and greed (above 55). As Cryptopotato reported less than a month ago, the same index was at 23, showing extreme fear in the market. Moreover, people seemed to believe that Bitcoin will be plunging to around $5,000 at that point.

However, the 2020 bullish run has turned the sentiment around, and it’s now much closer to “greed.” This comes to show that the price movements have a severe impact on the short-term feelings and predictions among the community.

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