| Kraken Intelligence

Kraken’s 2020 Sentiment Survey: Where We Are & What’s To Come

VIP clients are the first to receive Kraken Intelligence reports. If you’d like early access to our latest research and the opportunity to participate in future surveys, create an account today or ask your account manager for details.

Kraken Intelligence, our team of in-house research experts, surveyed 400 clients from around the world this January to gauge their sentiments and expectations for crypto in 2020.

Respondents consisted of individual traders, institutions, investors, payment firms, crypto exchanges and miners.

Key Takeaways

  • The average 2020 price target cited by survey takers for bitcoin (XBT) is $22,866 and $810 for ether (ETH).
  • Nearly 50% of respondents anticipate that the U.S. SEC will approve a bitcoin ETF this year.
  • The five most preferred alternative crypto assets were Ethereum, Monero, XRP, Litecoin and Tezos.
  • When making investing/selling decisions, clients primarily rely on technical analysis, followed by asset fundamentals, market sentiment and industry research reports. Leading industry models include Stock-to-Flow, NVT Signal and the Mayer Multiple.
  • Tether (USDT) was the overwhelming favorite (60.4%) among stablecoin users.

Despite these uncertain times, it is clear from the survey that the crypto industry still has many advances and catalysts to be optimistic about.