47% of Crypto Investors Predict

• According to crypto investors, Ether could dethrone Bitcoin in the near term.
• Despite sentiments being positive for Ether, some prominent Bitcoin figures are bullish on Bitcoin. 

Ethereum (Ether), the second-largest cryptocurrency by market cap, is poised to overthrow Bitcoin. Although Ether has held the second position for the longest time, some market players have remained convinced that the largest altcoin can dethrone the oldest cryptocurrency.

Very recently, a significant amount of cryptocurrency investors have added to these sentiments. According to a recent survey carried out by CryptoVantage, 47 percent of cryptocurrency investors expect that the second most-valued digital currency will surpass Bitcoin.

Not only are these investors confident that Ether has the potential to knock out the most valuable cryptocurrency and leading fiat rival, but they also believe that this could happen within the next 12 months.

Presently, Bitcoin is trading above the $30,000 price level, while its closest rival Ether, is valued at $1,900. To catch up to Bitcoin, Ether will need to increase its value by 16 times its current price and sustain momentum above those price levels.

The asset will also need to record a significant increase in trading volume and market cap in the coming months, to go head-to-head with Bitcoin.

Cathie Woods doubles down on $1.5 million Bitcoin price prediction

Just as these investors are bullish on Ether, prominent figures in the cryptocurrency market are also extremely bullish on Bitcoin. Cathie Wood, the CEO of ARKInvest, predicted that Bitcoin could be more than 50x its current price in the long term.

In a recent interview with Bloomberg TV, Wood explained that her sentiments towards Bitcoin are stronger than ever. “Our bull case, I think it’s $1,500,000 per coin, the best case is $625,000 (something like that)” Wood is quoted saying.

Wood explains the factors fueling her stance, as she cited the recent banking crisis that plaques the traditional finance market back in March. Like many others, she believes that Bitcoin is “a hedge against counterparty risk.”

This is a bold price prediction, even for Bitcoin, which has held the top position as the most valuable digital currency by market cap for a significant period. For Bitcoin to attain this milestone, the digital asset has to surge by more than fifty times its current price.

At report time, Bitcoin is trading for $29,903, shortly after recording a daily low of $29,556. Over the last week, Bitcoin has seen its recently accumulated gains drop mildly, as volatility continues to plague the cryptocurrency market.

At press time, Bitcoin has lost nearly 2 percent of its weekly gains. Market data reflects a massive decline in trading volume which is currently down by more than 15 percent.

A key metric also shows that market sentiments are becoming even more positive. According to the Bitcoin Fear and greed index, investors are more bullish than they are bearish.

The index shows a score of 55/100 for Bitcoin at report time. While this doesn’t necessarily indicate that Bitcoin investors are entirely positive, it also doesn’t indicate that Bitcoin investors are extremely positive.

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