Several crypto analysts have predicted Bitcoin will zoom ahead in price and reach $100,000 when the next bull run kickstarts. BTC is now trading below the $40,000 mark as it plummeted below $39,000 yesterday and is struggling to claw back. Just recently, Benzinga conducted a survey involving 1,000 investors and posed the question, “Which will happen first, Bitcoin at $100,000 or Shiba Inu at $0.001?”
The results of the survey are out and the majority of investors believe that Shiba Inu will reach $0.001 much faster than Bitcoin reaching $100,000. Below is the break-up of the poll results conducted by Benzinga.
- Bitcoin will reach $100,000 first: 35.7%.
- Shiba Inu will reach $0.001 first: 64.3%.
Read More: Robinhood Buying Trillions of Shiba Inu Tokens After Listing?
Why Are Investors Favouring Shiba Inu Over Bitcoin?
The sentiment in the market is favoring Shiba Inu as investors are keen to see the token grow. In addition, SHIB has constantly remained in the news cycle churning out new updates almost every day. The token has become the ‘go-to’ crypto for new and first-time investors, as its price is affordable to the average Joe.
Investors feel they’ve missed out on the bus for Bitcoin as its price has touched the roof. That isn’t the case with Shiba Inu and investors tie their goals and dreams towards the prospects of it shooting up in price.
Read More: Mysterious User ‘Burns’ 1 Billion Shiba Inu in a Single Transaction
Hence, SHIB has become the default choice for investors who want it to a spike in price so their dreams can be fulfilled. It’s a basic human tendency to favor the underdog over the well-established, as it renders a sense of ‘challenging’ authority.
Nonetheless, both Bitcoin and Shiba Inu have been trading on the backfoot this year showcasing no phenomenal growth. The crypto market has not seen a significant rise this year as economies around the world are in turmoil. Read here to know why the worldwide economy is facing turbulence at the moment.
Shiba Inu Burns
Investors believe that SHIB can reach the $0.001 mark faster as the ‘burns’ have intensified this week. SHIB launched its own ‘burn portal’ last week and has already ‘burned’ over 17 billion tokens and removed it out of circulation. One particular investor singlehandedly ‘burned’ 1 billion SHIB tokens worth $23,370.
Read More: When Will Bitcoin Spike in Price? Here’s Your Answer
A continuous and steadfast ‘burning’ initiative can help the token to achieve the $0.001 mark in the long run. Also, note that this is still pre-Shibarium, once the ‘burn portal’ gets integrated into Shibarium, the ‘burn’ rate could increase tenfolds through transaction fees.
At press time, Shiba Inu was trading at $0.00002340 and is down -0.51% in the 24-hours day trade. On the other hand, Bitcoin is trading at $39,599 and is up +1.14% in the day’s trade. Moreover, who will reach $100,000 or $0.001 respectively is a game we will have to wait and watch and not rely on polls.