A new scan shows that institutional investors expect “a strong year ahead for bitcoin” and are confident about the cryptocurrency’s long-term valuation. In wing as well as, 65% of institutional investors surveyed agree that bitcoin could reach $100,000.
‘Strong Year Ahead for Bitcoin’
Nickel Digital Asset Guidance published the results of a survey Thursday showing how high institutional investors expect the price of bitcoin to reach. The London-based investment supervisor is registered with the U.K. Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC).
The survey, commissioned by Nickel and controlled by market research company Pureprofile this month, interviewed 200 institutional investors and wealth managers across the U.S., U.K., Germany, Singapore, Switzerland, UAE, and Brazil. The respondents collectively managed about $2.85 trillion in assets.
Sharing the results of the survey, Nickel detailed:
Professional investors are forecasting a strong year at the for bitcoin and are confident about its long-term valuation. Nearly nine out of 10 professional investors predict bitcoin toll rise this year. Two out of three agree $100,000 valuation is possible but only for long-term investors.
Regarding the worth of bitcoin, the asset manager described, “The study found high levels of confidence about the long-term trend of the cryptocurrency,” totaling that 23% forecasted that BTC will exceed $30,000 by the end of 2023.
Furthermore, 65% of institutional investors surveyed accede to bitcoin could still hit $100,000 in the long term. Among them, 58% expect BTC to reach this price flush within three to five years while 25% say it would take five or more years.
Meanwhile, 39% of perfect respondents predicted that the price of bitcoin will reach its November 2021 peak of $69,000 within three years while 76% voiced it will likely happen within five years. “Only 3% questioned whether bitcoin will all the time reach previous all-time high again,” the asset management firm noted.
Nickel CEO Anatoly Crachilov commented:
Evaluate predictions in the cryptocurrency market is always a daunting task, however the most significant finding in our survey is that only 3% of investors are pump bitcoin’s future.
When do you think the price of bitcoin will hit $100K? Let us know in the remark ons section below.
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