Institutional Investors Predict ‘Strong Year’ for Bitcoin – 65% Expect BTC to Hit $100K, Survey Shows
The results of a survey were published on Thursday by Nickel Digital Asset Management to find out how investors try and expect the price of bitcoin to approach them. 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 this month by market research company Pure Profile, interviewed 200 institutional investors and money managers in the US, UK, Germany, Singapore, Switzerland, the UAE and Brazil, and the respondents collectively Managed approximately $2.85 trillion in assets since. Sharing these results, Nickell notes that professional investors are predicting a strong year for bitcoin and are certainly confident of its long valuation. Nine out of 10 professional investors are bullish on bitcoin prices this year. 2 out of 3 agree that valuation of one lakh is possible and is likely to happen only for long term investors. The asset manager states that the study has received a high level of confidence in the long trend of the cryptocurrency, with 23 percent predicting that bitcoin will exceed $30,000 by 2023. Additionally, 65 percent of investors who were surveyed believe that bitcoin can still reach $100,000 in the long term, and 58 percent of them expect bitcoin to reach this value within 3 to 5 years, while 25 percent say That it will take 5 or more years. Meanwhile, 39% of overall respondents predict that the price of bitcoin will reach its peak of $69,000 within 3 years, in November 2021, while 76% agree that you expect that to happen within 5 years and one firm said only three percent questioned whether bitcoin would ever reach its previous all-time high again.
Nickel CEO Anatoly crachilov commented that predicting the price of the cryptocurrency market is always a difficult task and certainly the survey is an important finding as only three percent of investors are questioning the future of bitcoin or whether it is worth it.