Equity strategists and portfolio managers were asked what the Bitcoin price will be like by the end of the year. Almost half of the respondents surveyed say the price of the cryptocurrency will drop below the $ 30,000 level, but some believe it will rise to $ 60,000.
Year-end Bitcoin Price Expectations by Equity Strategists and Portfolio Managers
Equity strategists and portfolio managers revealed in a poll by CNBC released last week what they think the price of Bitcoin will be at the end of 2021. Each quarter, the media company surveys around 100 chief investment officers, equity strategists and portfolio managers about their assessment of the markets for the remainder of the year. The last survey was conducted June 23-30.
According to survey results released last week, 44% of respondents said the price of Bitcoin will be below $ 30,000 by the end of the year.
Additionally, 25% of equity strategists and portfolio managers said it will be $ 40,000 and another 25% said it will hit $ 50,000. Only 6% expected the BTC price to hit $ 60,000 by the end of the year.
Equity strategists and portfolio managers survey results. Source: CNBC
Several recent surveys indicate the growing popularity of cryptocurrency investing among institutional investors. The 2021 Trends in Investing Survey, conducted by the Journal of Financial Planning and the Financial Planning Association (FPA), found that more than 26% of financial advisors plan to increase their cryptocurrency recommendation over the next 12 months. Meanwhile, 49% of advisors said customers had asked them about investing in cryptocurrencies in the past six months.
Bank of America’s latest Global Fund Manager Survey showed that Long Bitcoin is the second most trafficked trade for fund managers. Additionally, a global survey of finance chiefs found that hedge funds are likely to increase their cryptocurrency holdings significantly.
Where do you think the Bitcoin price will be by the end of the year? Let us know in the comment section below.
Photo credit: Shutterstock, Pixabay, Wiki Commons, CNBC
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