A new survey shows that institutional investors expect a “strong year for bitcoin” and are confident in the cryptocurrency’s long-term valuation. In addition, 65% of institutional investors surveyed agree that bitcoin could reach $100,000.
A strong year is coming for Bitcoin.”
Nickel Digital Asset Management released a survey Thursday showing how high institutional investors expect the price of bitcoin to go. The London-based investment advisor is registered with the U.K. Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC).
The survey, commissioned by Nickel and conducted this month by market research firm Pure Profile, interviewed 200 institutional investors and asset managers in the US, UK, Germany, Singapore, Switzerland, UAE and Brazil. Respondents collectively manage approximately $2.85 trillion in assets.
Sharing the survey results, Nickel elaborates.
Professional investors predict a strong year for bitcoin and are confident in its long-term valuation. Nearly nine out of ten professional investors predict a rise in bitcoin prices this year; two out of three agree that a $100,000 valuation is possible, but only for long-term investors.
Regarding the Bitcoin price, the asset management firm explained that “the survey found a high level of confidence in the long-term trend of cryptocurrencies,” adding that 23% predictedBTCwill exceed $30,000 by the end of 2023 and predicted that the market would be at $30,000 by the end of 2023.
Additionally, 65% of institutional investors surveyed agreed that Bitcoin could still reach $100,000 in the long term. Among them, 58%predict that BTCwill reach this price level within three to five years, while 25% say it will take more than five years.
Meanwhile, 39% of all respondents expect bitcoin’s price to reach its November 2021 peak of $69,000 within three years, while 76% say it is likely to happen within five years.” The asset manager noted that “only 3% question whether bitcoin will ever reach its all-time high again.
Nickel CEO Anatoly Kratilov commented that
Predicting prices in the cryptocurrency market is always a difficult task, but the most important finding of our survey is that only 3% of investors have doubts about the future of bitcoin.
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