Bitcoin price rise exceeds crypto owners’ expectations

The third edition of the Cryptocurrency Monitor, a large-scale survey by Multiscope among more than 4,000 Dutch people, showed that 72% of crypto owners in 2023 predicted a rise in the price of Bitcoin in the next five years. An average increase of 75% was expected. In June 2023 the price was approximately € 25,000. On Monday March 4 (10 a.m.) that was approximately €60,000. That is a price increase of 140%, or significantly higher than expected. Incidentally, 28% were more pessimistic at the time and thought that the Bitcoin price would fall. They expected a price drop of 30% on average.

Desired return is 735%
Two-thirds of crypto owners (67%) indicated in 2023 that they plan to keep the crypto coins for as long as possible and that they do not have a specific price target. In 2022 this was still 75%. The remaining 33% of crypto owners sell their portfolio at an average return of 735%. This meant that the desired return fell compared to a year earlier, when it was 1,060%.
Crypto owners aged 18 to 34 sell their portfolio at an average return of 177%, while 35 to 49 year olds only do so at a return of 1,515%. The latter group wants by far the highest return. People over 50 aim for a return of 775%.

Most owners are long-term investors
Most cryptocurrency owners in the Netherlands are long-term investors (85%). This group buys and holds coins and hopes to make a return in the long term. One in ten (10%) owners see crypto coins as a future means of payment and do not buy them because of the expected return. This percentage increased by 4 percentage points compared to 2022 (6%). In addition, 5% of crypto owners are ‘traders’. Traders trade cryptocurrencies every day to make a return.

The results in this message come from the third edition of the Cryptocurrency Monitor, a large-scale study into payments, investments and savings in a new economy. The study interviewed 4,130 respondents aged 18 and older, representative of the Dutch population.