Although bitcoin ended in an increase of over 60% in 2021, there has been a bit of disappointment in the crypto space. Indeed, the asset failed to reach six-figure territory and actually fell 30% in less than two months.
The creator of the popular stock-to-flow model, though, initiated a poll, which shows that nearly 50% of the community expects BTC to head to and above $100,000 by the end of 2022.
Over $ 100,000 in the next 12 months?
Before exploring the most recent poll, it should be noted that these polls are largely dependent on the current mood in the market and can change quite quickly. For example, in one of those polls from September 2020, when BTC had just passed $ 10,000, most people said it would not go over $ 55,000 in 2021, which it did. .
Later on, in March last year, when BTC was flying high at above $55,000, the majority of the community voted that it will go to north of $100,000, which it didn’t. Moreover, the biggest optimists even said it will go to $500,000.
Now the general sentiment is a bit more bearish as evidenced by the Bitcoin Fear and Greed Index indicating extreme fear. This is mainly because bitcoin has fallen more than 30% since its peak in mid-November at $ 69,000.
As such, it’s expected to a large extent that most people will be more modest in their 2022 predictions. PlanB’s latest Twitter survey shows that nearly 24% believe BTC will stay below $50,000, 31.1% think it will be between $50,000 and $100,000.
Yet the answer with the most votes sees bitcoin entering six-figure territory between $ 100,000 and $ 200,000. Only 12.6% voted for BTC to exceed $ 200,000.
2021 Was Actually Very Good
Despite the current negative sentiment in the community due to the latest price slides, last year was actually quite positive for the primary cryptocurrency. It charted several new all-time highs, with the latest coming at $69,000 as mentioned above.
Although BTC has lost over $ 20,000 since then, it still ended the year with an increase of over 60%. As a result, PlanB pointed out that it has outperformed most other traditional financial assets, including gold. In fact, the precious metal, considered by many to be the ultimate inflation hedging tool, has seen a minor loss in a year that has seen inflation rates soar.
