44% of investors expect Bitcoin to fall below $ 30,000 in 2021: CNBC survey

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Throughout Bitcoin’s historic price spikes and falls, investors have tried unsuccessfully to use traditional markers to make sense of volatile trends.

CNBC recently conducted a survey of a group of portfolio managers and equity strategists to understand the inner sentiment of the fintech community towards Bitcoin. Respond to the survey “Where will Bitcoin be by the end of the year?” Squawk Box reported:

Forty-four percent say (Bitcoin) will be below $ 30,000 and roughly stable for the year. Others are more optimistic.

Of the remaining 56%, 25% predicted the price would rise to $ 45,000, while the remaining 25% supported BTC to hit the $ 55,000 mark. A small minority of 6% said Bitcoin could bring the bank down to $ 60,000, near its all-time high of $ 65,000 since April 2021.

Although experts argue that the value of a cryptocurrency can only be equated to its use case, Bitcoin has established itself as a veritable store of value against all odds and speculation. Given the difficult financial situation for panicked sellers and the changing opinion of Bitcoin and cryptocurrency, the adoption rate continues to rise steadily across the world for unique use cases.

As this particular poll represents only a small fraction of the crypto population and by no means represents the entirety of investor sentiment, readers are advised not to make investment decisions on the basis of market discussions. bearish or bullish.

Related: 3 Things Traders Are Saying About Bitcoin And The State Of The Bull Market

Bitcoin’s recent $ 29,000 drop recently rocked investor confidence. However, many seasoned traders have signaled the approach of a bull run. Since Bitcoin’s $ 32,000 recovery, traders have come to expect BTC to return to its former glory.

Several other experts have also predicted that crypto could take off due to weakening fiat currencies around the world. Major governments continue to study small economies that have failed to maintain their traditional fiduciary infrastructure.

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