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Michael Saylor hints at a price boom ahead By U.Today
U.Today – MicroStrategy President and Co-Founder Michael Saylor sparked excitement within the crypto community by launching a poll, asking, “How fast do you expect BTC to appreciate annually in USD over the next ten years?” The results reveal strong bullish sentiment among respondents, suggesting a significant price boom ahead for .
These results indicate that nearly half of those surveyed are extremely optimistic about Bitcoin’s future, predicting substantial annual appreciation that could see the cryptocurrency reach unprecedented levels.
According to the survey results, 22.4% of participants expect a constant increase of 10% to 19% per year. Meanwhile, 18% are even more optimistic, predicting an annual increase of between 20% and 29%. A hopeful 10.8% of respondents expect an increase of 30% to 39% each year. However, it is the majority, a whopping 48.8%, who predict a staggering 40% annual appreciation for over a decade.
This sentiment comes at a time when Bitcoin is experiencing a significant downturn, having extended its decline near $60,000, in stark contrast to hopeful forecasts.
Bitcoin recently extended its decline to lows of $60,581 in the early trading session today, following one of the worst weeks for the cryptocurrency in 2024. At the time of writing, Bitcoin was trading at $61,076, marking a low of over a month and a level of approximately 6% dripping.
Losses are piling up in the cryptocurrency market following its second-worst weekly decline of 2024, reflecting lower demand for exchange-traded fund Bitcoin and concerns over monetary policy. The decline in cryptocurrencies comes amid concerns about the Federal Reserve’s ability to quickly reduce interest rates from a two-decade high.
Bitcoin hit an all-time high of $73,798 in mid-March, but has lagged traditional investments such as stocks, bonds and gold this quarter.
While the crypto community keeps a close eye on Bitcoin’s price movement in the near term, Saylor’s survey reflects expectations for Bitcoin’s growth over the next decade.