We collected 37,470 effective responses during the course of the survey. The main takeaways from the survey are listed below.
- CoinMarketCap (42%) and TradingView (25%) were the most popular data providers. While 37% of respondents didn’t subscribe to any crypto data services.
- Most respondents (87%) monitored Bitcoin price or invested in Bitcoin.
- Respondents tended to agree that there’s momentum or trends in Bitcoin prices.
- 50% of respondents thought that the length of the Bitcoin price trend was between 1 week to 3 months.
- Half of respondents monitored technical analysis indicators of Bitcoin price at least a few times a week. While 22% of respondents seldom checked Bitcoin on-chain data.
- Respondents tended to agree that both TA and on-chain data are helpful to predict future Bitcoin prices.
- Trading volume (54%) became the most common technical analysis indicator.
- Transaction volume (51%) was the most popular on-chain indicator.
- Both TA and on-chain data advocators believed that both analyses are only suitable to predict short term (within 1 week to 6 months) Bitcoin price.
- Investor sentiment (39%) and Bitcoin mass adoption (28%) were the two most popular answers for affecting short-term Bitcoin returns, they were indicated as the top reasons for affecting mid-long term returns too (31% and 37% respectively).
- Overall, our respondents thought that the average price Bitcoin could reach was $29,399.
- Gold (46%) and altcoins (37%) were the most common assets that have the highest correlation with Bitcoin as indicated by respondents.
Read the full version of the Bitcoin Data Price Mining Survey here.