A new survey shows that institutional investors see 'a strong year ahead for bitcoin,' with 65% expecting $BTC to hit $100K. crypto cryptocurrency
Institutional Investors Forecast 'Strong Year' for Bitcoin — 65% Expect BTC to Hit $100K, Survey Shows
A new survey shows that institutional investors expect “a strong year ahead for bitcoin” and are confident about the cryptocurrency’s long-term valuation. In addition, 65% of institutional investors surveyed agree that bitcoin could reach $100,000.Nickel Digital Asset Management published the results of a survey Thursday showing how high institutional investors expect the price of bitcoin to reach. The London-based investment manager is registered with the U.K.
The survey, commissioned by Nickel and conducted 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 around $2.85 trillion in assets.Professional investors are forecasting a strong year ahead for bitcoin and are confident about its long-term valuation.
Regarding the price of bitcoin, the asset manager described, “The study found high levels of confidence about the long-term trend of the cryptocurrency,” adding that 23% forecasted thatFurthermore, 65% of institutional investors surveyed agree bitcoin could still hit $100,000 in the long term. Among them, 58% expectto reach this price level within three to five years while 25% say it would take five or more years.
Meanwhile, 39% of total respondents predicted that the price of bitcoin will reach its November 2021 peak of $69,000 within three years while 76% said it will likely happen within five years. “Only 3% questioned whether bitcoin will ever reach previous all-time high again,” the asset management firm noted.Price 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 questioning bitcoin’s future.
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