New Poll finds Crypto Community More Bullish on Ripple (XRP) than Bitcoin (BTC)
Thomas Lee of market research firm Fundstrat, recently launched an informal poll on Twitter asking the crypto community six questions. Each question has four multiple choice answers focused mainly around the top five performing coins.
The questions include:
- What do you think is the most important macro factor influencing crypto prices?
- Do you think Crypto prices rise in a recession?
- When do you think Bitcoin will bottom?
- Where is Bitcoin’s price by YE 2019?
- Which token do you see as the best performing in the next 12 months?
- Which of these tokens “investment thesis” make the least sense to you?
Admittedly the poll isn’t necessarily indicative of the overall sentiment of the entire community, but with 574000 followers and a high level of respect within financial circles, Thomas Lee is well positioned to conduct it. At the time of writing the poll has been running for 16 hours and is still active with early figures showing some interesting results.
Most notably, on the question regarding the best performing token in the next 12 months, 42 percent of 6,000 respondents chose XRP while only 34 percent chose Bitcoin and 16 percent Ethereum. XRP has been performing exceptionally well lately on news of the upcoming xRapid launch but whether this strong performance will persist over the coming year is speculative at best.
So far, 35 percent of voters have chosen ‘Central Banks’ as the number one macro factor they believe influences crypto prices. 27 percent selected ‘Emerging Markets’ with the remainder voting for ‘Geopolitical tension’ or ‘USD’. The community seems almost evenly split on whether crypto prices rise in a recession and almost half the community believe Bitcoin has already bottomed, with an additional quarter believing it will bottom before the end of 2018.
When asked about what investment thesis makes the least sense, unsurprisingly the majority voted for Tron over other options Bitcoin, XRP and Ethereum Classic (ETC). Tron has faced a number of allegations this year regarding plagiarism in its white paper and has fallen from 8th to 13th position on CoinMarketCap.
Head over to Thomas Lee’s Twitter account to do the poll yourself. It will be interesting to see if the results change significantly before it ends.
CRYPTO POLL (1 of 6 questions):
Question 1: What do you think is the most important macro factor influencing crypto prices?
— Thomas Lee (@fundstrat) September 30, 2018