Non-professional crypto traders are confident Bitcoin and Ethereum will return to their all-time highs of just over £51,032.00 and £3,610.11 respectively, per coin, according to new international research from GNY.io.

The study with retail traders trading at least $5,000 (£4,118) a month on cryptocurrencies found 93% say both cryptocurrencies will go back to their previous record levels.

Just 5% of traders say Bitcoin will never reach the landmark again while 2% don’t know and 3% believe Ethereum will never achieve its all-time again and 4% don’t know.

With regards to timeframe, around 46% say Bitcoin will achieve the record level within three years while 37% say the same about Ethereum.

The long-term confidence builds on optimism about this year, the research found. Bitcoin has performed strongly so far, with 78% of traders believing it will continue to climb with 19% predicting it will pass $45,000 (£37,057).

Around 4% believe it could double to $60,000 (£49,416). More than three out of four (76%) believe Ethereum will sustain its bull run. More than half (55%) believe it will end the year above $2,000 with 11% predicting it will climb to more than $2,500 (£2,058) by the end of 2023.

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Cosmas Wong, CEO GNY said: “Our research shows that confidence levels amongst crypto traders is rising – and in particular for Bitcoin and Ethereum. Despite a very difficult year for crypto in 2022, the markets have bounced back this year, and in particular confidence around the two main digital assets is high.

“However, crypto markets will remain volatile so the importance of access to quality data and reliable AI price predictive tools has never been greater.”