Poll: 44% of investors predict Bitcoin will drop below $ 30,000 for the remainder of the year
During Bitcoin’s historical ups and downs, investors have tried to use traditional markers to understand volatility trends and it has failed repeatedly.
CNBC recently conducted a survey of a group of portfolio managers and equity strategists to understand the fintech community’s sentiment towards Bitcoin. Squawk Box reported on the survey “Where will Bitcoin be at the end of the year?”:
“44% believe Bitcoin will be below $ 30,000 over the course of the year and will be almost unchanged. The rest are more optimistic. “
Of the remaining 56%, 25% predict the price will rise and trade at $ 45,000, while the remaining 25% suggest BTC will hit the $ 55,000 mark. Only 6% say Bitcoin could return to $ 60,000, near its all-time high of $ 65,000 in April 2021.
– Squawk box (@SquawkCNBC) July 2, 2021
While experts argue that the value of a cryptocurrency can only be equated with its use case, Bitcoin has asserted itself as a true store of value against all odds and speculation. 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.
Bitcoin’s recent decline to the $ 28,000 region has shaken investor confidence. However, many seasoned traders have signaled an impending bull run. With Bitcoin back up 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.
According to Cointelegraph