Will bitcoin price reach $100,000 this year? 65% of institutional investors say yes!

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A new survey shows that institutional investors expect a “good year for bitcoin” and are confident about the long-term valuation of the cryptocurrency. Additionally, 65% of institutional investors surveyed believe bitcoin could hit $100,000.

A good year for bitcoin

Nickel Digital Asset Management on Thursday released survey results showing how much institutional investors expect the price of bitcoin to skyrocket. The London-based investment manager is registered with the UK’s Financial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC).

The survey, commissioned by Nickel and conducted this month by market research firm Pureprofile, surveyed 200 institutional investors and wealth managers in the US, UK, Germany, Singapore, Switzerland , the United Arab Emirates and Brazil. Respondents collectively managed approximately $2.85 trillion in assets.

Sharing the survey results, Nickel detailed:

Professional investors predict a solid year for bitcoin and are confident about its long-term valuation. Nearly nine out of 10 professional investors expect the price of bitcoin to rise this year. Two in three agree that a $100,000 valuation is possible, but only for long-term investors.

Regarding the price of bitcoin, the asset manager said, “The study revealed high levels of confidence in the long-term trend of the cryptocurrency,” adding that 23% of respondents expected the price of bitcoin to bitcoin would rise this year and surpass $30,000 by the end of 2023.

Additionally, 65% of institutional investors surveyed believe bitcoin could still hit $100,000 in the long run. Of these, 58% expect BTC to reach this price level within three to five years, while 25% say it will take five years or more.

Meanwhile, 39% of total respondents predicted bitcoin price would hit its November 2021 peak of $69,000 within three years, while 76% said it would likely happen within five years. “Only 3% of respondents wondered if bitcoin would hit the previous all-time high again,” the asset management firm noted.

Nickel CEO Anatoly Crachilov commented:

Predicting prices in the cryptocurrency market is always a daunting task, but the most significant finding from our survey is that only 3% of investors question the future of bitcoin.

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