San Francisco-based cryptocurrency exchange Kraken has published a 12-page report analyzing the sentiments and expectations of its top clients with respect to Bitcoin and the overall crypto market in 2020.
The survey was conducted in late January and involves 400 respondents, most of whom manage less than $10 million in assets.
The poll shows that $20,000 is the most cited target price for Bitcoin (BTC) in 2020 among Kraken’s VIP clients. The average target price for the king cryptocurrency is $22,886, while the median target price is $19,424. Meanwhile, respondents have an average target price of $810 for Ethereum (ETH) this year.
With 117 votes, Ethereum also tops the list of the most preferred alternative crypto assets. Coming in tied at second place are Monero (XMR) and Ripple (XRP) with 57 votes each. Taking the third spot is Litecoin (LTC) with 51 votes while Tezos (XTZ) ranks fourth with 49 votes.
The survey also reveals that 44% of Kraken’s VIP clients believe that crypto is in a bull market while 22% believe the bear market is ongoing. The remaining 34% are undecided.
As for an altseason, a period when altcoins perform well against Bitcoin and the US dollar, 54% predict that the boom will happen in 2020.
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