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47% of Nocoiner Brits Plan to Invest in Bitcoin This Year: Survey

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47% of Nocoiner Brits Plan to Invest in Bitcoin This Year: Survey

While those invested, 74% plan to further increase. Also, 30% of coiners expect the BTC price to exceed $100,000 this year.

Brits remain bullish on Bitcoin, with 61% of respondents of the new survey saying they expect the value of BTC to rise above $60,000 this year.

The survey was conducted by uk.Investing.com with approximately 800 respondents, 58% of who invest in Bitcoin while 42% do not. 17% of the respondents believe $42,000 hit on Jan. 8 was the top of this bull cycle.

However, those who have invested in Bitcoin are particularly optimistic as the survey revealed 30% of them believe BTC price will exceed $100,000 per coin this year.

“After a record-breaking year in 2020 that saw it jump more than 300%, Bitcoin looks to stay strong in 2021 as more retail – and big-name institutional buyers – enter the market,” said Jesse Cohen, senior analyst at uk.Investing.com. “For those already in, the strategy in place remains to HODL.”

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According to Cohen, besides the first-time investors, the ultra-cheap money that is being pumped into the global financial system by the central banks all over the world has found its way into Bitcoin as well.

When it comes to other cryptocurrencies, 83% of investors expect the value of Ethereum (ETH) to rise this year, followed by Litecoin (LTC) by 35%, Bitcoin Cash (BCH) by 28%, and XRP by 25%.

Among the surveyed Bitcoin investors, 74% are planning to increase their HODLings this year, with the majority of them having only entered within the last three months.

As for those who do not currently invest in the cryptocurrency, 47% of them plan to do so this year — 26% plan to make a £1-£1,000 investment while 21% planning a £1,000 – £10,000 investment, reveals the survey.

For the majority of Brits, 53%, the new regulatory restrictions is the biggest threat to Bitcoin in 2021, followed by a pullback leading to a large off, at 26%.

However, 46% of the respondents trust Bitcoin and other cryptocurrencies “to some extent” while 18% do so “fully.”

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