Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Institutional Investors Forecast ‘Strong Year’ For Bitcoin – 65% Expect BTC To Reach $100,000, Survey – Markets & Prices Bitcoin News
A new survey shows that institutional investors expect “a strong year ahead for bitcoin” and are confident in the cryptocurrency’s long-term valuation. In addition, 65% of institutional investors surveyed agree that bitcoin can reach $100,000.
“Strong Year Ahead for Bitcoin”
Nickel Digital Asset Management published the results of a survey on Thursday showing how high institutional investors expect the price of bitcoin to reach. The London-based investment manager is registered with the UK Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC).
The survey, commissioned by Nickel and conducted by market research firm Pureprofile this month, interviewed 200 institutional investors and wealth managers across the US, UK, Germany, Singapore, Switzerland, UAE and Brazil. The respondents managed a total of about $2.85 trillion in assets.
Nickel shared the results of the survey and detailed:
Professional investors predict a strong year ahead for bitcoin and are confident in its long-term valuation. Almost nine out of 10 professional investors predict a rise in the price of bitcoin this year. Two out of three agree a $100,000 valuation is possible, but only for long-term investors.
Regarding the price of bitcoin, the asset manager described: “The study found high levels of confidence in the long-term trend of the cryptocurrency,” adding that 23% predicted that BTC will exceed $30,000 by the end of 2023.
Furthermore, 65% of surveyed institutional investors agree that bitcoin can still reach $100,000 in the long term. Among them, 58% expect BTC to reach this price level within three to five years, while 25% say it will take five or more years.
Meanwhile, 39% of total respondents predicted that the price of bitcoin will peak in November 2021 at $69,000 within three years, while 76% said it is likely to happen within five years. “Only 3% questioned whether bitcoin will ever reach its previous all-time high again,” the asset management firm noted.
Nickel CEO Anatoly Crachilov commented:
Price prediction in the cryptocurrency market is always a daunting task, but the most important finding of our survey is that only 3% of investors question bitcoin’s future.
When do you think the price of bitcoin will reach $100K? Let us know in the comments section below.
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