A brand new survey exhibits that institutional traders anticipate “a powerful 12 months forward for bitcoin” and are assured concerning the cryptocurrency’s long-term valuation. As well as, 65% of institutional traders surveyed agree that bitcoin may attain $100,000.

‘Sturdy 12 months Forward for Bitcoin’

Nickel Digital Asset Administration revealed the outcomes of a survey Thursday exhibiting how excessive institutional traders anticipate the value of bitcoin to succeed in. The London-based funding supervisor is registered with the U.Okay. Monetary Conduct Authority (FCA) and the U.S. Commodity Futures Buying and selling Fee (CFTC).

The survey, commissioned by Nickel and carried out by market analysis firm Pureprofile this month, interviewed 200 institutional traders 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:

Skilled traders are forecasting a powerful 12 months forward for bitcoin and are assured about its long-term valuation. Almost 9 out of 10 skilled traders predict bitcoin worth rise this 12 months. Two out of three agree $100,000 valuation is feasible however just for long-term traders.

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

Moreover, 65% of institutional traders surveyed agree bitcoin may nonetheless hit $100,000 in the long run. Amongst them, 58% anticipate BTC to succeed in this worth stage inside three to 5 years whereas 25% say it could take 5 or extra years.

In the meantime, 39% of complete respondents predicted that the value of bitcoin will attain its November 2021 peak of $69,000 inside three years whereas 76% stated it is going to possible occur inside 5 years. “Solely 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 in the cryptocurrency market is all the time a frightening job, nonetheless essentially the most vital discovering in our survey is that solely 3% of traders are questioning bitcoin’s future.

When do you suppose the value of bitcoin will hit $100Okay? Tell us in the feedback part beneath.

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