Kraken’s Top Crypto Traders Reveal BTC Forecasts and Favorite Altcoins

San Francisco-based digital currency exchange Kraken has published a 12-page report breaking down the assumptions and desires for its top customers as for Bitcoin (BTC) and the general cryptocurrency market in 2020.

The study was conducted in late January and includes 400 respondents, the vast majority of whom oversee under $10 million in assets.

The survey shows that $20,000 is the most referred to target cost for Bitcoin (BTC) in 2020 among Kraken’s VIP customers. The normal objective cost for the dominating cryptocurrency is $22,886, while the middle objective cost is $19,424. In the interim, respondents have a normal objective cost of $810 for Ethereum (ETH) this year.

What Is Your Price Target For 2020? (USD)

For Bitcoin (BTC)

Average –  $22, 866

Median – $19, 424

Mode – $20,000

Min – $0

Max – $100,000

Std. Deviation – $15, 426

For Ether (ETH)

Average –  $810

Median – $500

Mode – $300

Min – $0

Max – $10,000

Std. Deviation – $1, 040

Ethereum, with 117 votes, likewise tops the rundown of the most favored options for crypto assets. Coming in tied at runner up are Monero (XMR) and Ripple (XRP) with 57 votes each. Taking the 3rd spot is Litecoin (LTC) with 51 votes while Tezos (XTZ) positions 4th with 49 votes.

The study additionally uncovers that 44% of Kraken’s VIP customers accept that cryptocurrency is in a positively trending market while 22% accept the bear market is progressing. The staying 34% are unsure.

With respect to an altseason, a period when altcoins perform well against Bitcoin (BTC) and the US dollar, 54% foresee that the boom will occur this year.