Institutional Investors Forecast ‘Strong Year’ for Bitcoin — 65% Expect BTC to Hit $100K, Survey Shows

A brand new survey exhibits that institutional buyers count on “a robust yr forward for bitcoin” and are assured concerning the cryptocurrency’s long-term valuation. In addition, 65% of institutional buyers surveyed agree that bitcoin may attain $100,000.

‘Strong Year Ahead for Bitcoin’

Nickel Digital Asset Management revealed the outcomes of a survey Thursday exhibiting how excessive institutional buyers count on the value of bitcoin to achieve. The London-based funding supervisor is registered with the U.Okay. Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC).

The survey, commissioned by Nickel and performed by market analysis firm Pureprofile this month, interviewed 200 institutional buyers and wealth managers throughout the U.S., U.Okay., Germany, Singapore, Switzerland, UAE, and Brazil. The respondents collectively managed round $2.85 trillion in belongings.

Sharing the outcomes of the survey, Nickel detailed:

Professional buyers are forecasting a robust yr forward for bitcoin and are assured about its long-term valuation. Nearly 9 out of 10 skilled buyers predict bitcoin value rise this yr. Two out of three agree $100,000 valuation is feasible however just for long-term buyers.

Regarding the value of bitcoin, the asset supervisor described, “The examine discovered excessive ranges of confidence concerning the long-term development of the cryptocurrency,” including that 23% forecasted that BTC will exceed $30,000 by the tip of 2023.

Furthermore, 65% of institutional buyers surveyed agree bitcoin may nonetheless hit $100,000 in the long run. Among them, 58% count on BTC to achieve this value stage inside three to 5 years whereas 25% say it could take 5 or extra years.

Meanwhile, 39% of whole respondents predicted that the value of bitcoin will attain its November 2021 peak of $69,000 inside three years whereas 76% stated it would seemingly occur inside 5 years. “Only 3% questioned whether or not bitcoin will ever attain earlier all-time excessive once more,” the asset administration agency famous.

Nickel CEO Anatoly Crachilov commented:

Price predictions within the cryptocurrency market is at all times a frightening process, nevertheless essentially the most important discovering in our survey is that solely 3% of buyers are questioning bitcoin’s future.

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