Bullish Sentiment towards Crypto Assets Rises in Q3, Voyager Digital Says

[ad_1]

Bitcoin is on track to surpass $ 56,000 by the end of the year, a large majority of those polled told Voyager Digital. The cryptocurrency asset broker also found that more people are bullish on bitcoin compared to the previous quarter. The rise in crypto bullish sentiment comes amid increased regulatory scrutiny. Loading Something is loading.

Crypto investors have become more optimistic about the price outlook for bitcoin and other digital assets over the past quarter, even in the face of closer regulatory scrutiny, according to a new survey from Voyager Digital.

According to the Q3 Cryptocurrency Asset Broker Sentiment Survey results sent to Insider, 8 in 10 are bullish on bitcoin in the next three months. This is a slight increase from the second quarter, when 7 in 10 respondents had a bullish view of the market.

The latest survey also found that 8 in 10 see bitcoin exceed $ 56,000 by the end of 2021, which is a 27% increase from Thursday’s price of around $ 44,000.

“As our user base continues to grow and the adoption of digital assets increases, the results of our survey suggest that more investors view Bitcoin as a better store of value compared to the d classes. ‘more traditional assets such as stocks, real estate and government bonds,’ Steve Ehrlich, founder and CEO of Voyager, said in the survey statement.

“This is important when you consider that more than a fifth (22%) of respondents have been investing in crypto for more than two years,” and it is likely that many of them will consider exiting. ‘expose to traditional asset classes, he said.

The results also showed that 40% expect bitcoin to trade above $ 71,000 at some point in the fourth quarter, surpassing the all-time high of $ 64,863 reached in April. The previous sentiment survey released in June indicated that 38% expected bitcoin to end the third quarter between $ 56,000 and $ 70,000.

Among altcoins, 40% of investors polled by Voyager were bullish on Cardano’s ada token followed by ethereum at 16%.

The crypto market review continued into the third quarter as US regulators looked for more ways to monitor the market. The Treasury Department and other agencies are quickly moving towards stablecoins for tighter regulation, The New York Times reported Thursday.

And Securities and Exchange Commissioner Gary Gensler compared stablecoins to “poker chips” in an interview with the Washington Post this week.

He also called on lawmakers to give the agency the power to legally oversee crypto exchanges. Last week, he said those exchanges were to “come in and talk” to the agency, just days after clashing with the Coinbase trading platform over a loan product. Coinbase has since abandoned plans for Lend.

Meanwhile, big investors are avoiding bitcoin futures and turning to ethereum futures as expectations for bitcoin soften, according to analysts at JPMorgan. They noted that in September, bitcoin futures on the Chicago Mercantile Exchange were trading below the price of an actual bitcoin.

[ad_2]