44% of Investors Predict Bitcoin to Fall Below $ 30,000 in 2021: CNBC Survey

During Bitcoin’s historical ups and downs, investors have tried to use traditional signals to understand volatility trends.

CNBC recently conducted a survey of a group of portfolio managers and equity strategists to understand the fintech community’s sentiment towards Bitcoin. Answering a survey on “Where will Bitcoin be at the end of the year?” Squawk box report:

“Forty-four percent believe (Bitcoin) will be below $ 30,000 and roughly unchanged for the year. Others are more optimistic. “

Of the remaining 56%, 25% predict the price will rise and settle at $ 45,000, while the remaining 25% predict BTC will hit the $ 55,000 mark. A small minority of 6% says Bitcoin could bring the bank back to $ 60,000, near its all-time high of $ 65,000 in April 2021.

While experts argue that the value of a cryptocurrency can only be equated with its use case, Bitcoin still holds its own as a true store of value against all odds and speculates. Given the financial hardship for panic sellers and changing views on Bitcoin and crypto, adoption rates continue to rise worldwide to serve unique use cases.

Because this particular survey represents only a small fraction of the crypto demographics and does not reflect the full spectrum of investor emotions, readers should not make investment decisions based on discussion.

Related: 3 Things Traders Are Saying About Bitcoin and the State of the Bull Market

Bitcoin’s recent $ 29,000 drop in price has shaken investor confidence. However, many seasoned traders have signaled an impending bull run. With Bitcoin bouncing back to $ 32,000, traders expect BTC to return to its former glory.

Several other experts have also forecast an upturn in cryptocurrencies due to the weakening of fiat currencies around the world. Big governments continue to scrutinize smaller economies that have failed to maintain their traditional fiat infrastructures.