The fall of 2018 bought Bitcoins to a level of USD 4000 which was way off its all-time high. But even with significant devaluation, the confidence that people have in Bitcoin fails to fade away. The same confidence was seen in 27% of Germans who were part of a recent survey where they mentioned that Bitcoin had a potential of doubling in value in the next 2 years.
3% believe it will be worth more than EUR 20,000
Germany has been the flag bearer for cryptocurrencies in the European Continent and its citizens have high faith in the newest form of money. And if anyone has any doubts regarding it, a recent survey conducted by German crypto information website Coincierge.de clears it.
A survey of 2,000 Germans which was recently conducted revealed that 27% of young adults believe that Bitcoin will more than double in value in 2 years. The firm surveyed 2,054 German adults to gauge their attitudes towards Bitcoin.
The result of the survey also listed out some interesting insights on other facts as well as to how Germans perceive Bitcoin’s value to be. The survey included a question about the future price of Bitcoin. The respondents were asked about their views on the Bitcoin price after two years. The price scale was set in the range of EUR 0-50000, and respondents were expected to predict the succeeding value. Most of the respondents predict that the price of Bitcoin will remain stable over the next two years.
The results reveal that:
- 15% of Germans believe Bitcoin will more than double in value to EUR 10,000+
- 25% believe it will at least halve in value,
- 26% believe it will halve or be worth nothing;
- 15% believe it will double or more in value;
- 3% believe it will be worth more than EUR 20,000.
The analysis of the Bitcoin survey also highlights that most investors would prefer investments such as stocks or exchange-traded funds. People in the age group of 18-24 showed interest in selecting cryptocurrencies as their preferred investment type.
The research also reveals that although many Germans consider Bitcoin as a potential and profitable currency, they still tend to hold back on their predictions and are always on the lookout for alternate markets.
Recently Germany was also named as the fast-growing as a hub for bitcoin nodes, as it is now responsible for 20% of all public nodes, inching closer to the United States, which accounts for 25% of bitcoin nodes.
The way Germany is growing as a crypto nation on all fronts, it won’t be suppressing to see a lot of crypto companies shifting their bases there. Germany’s increasing contribution towards cryptos may intensify the race of grabbing top sports in the World order of the future.
Will Germany emerge the leading crypto country and challenge US, Korea, and Japan in the race of supremacy? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.