Wall Street Survey Reveals Majority of Investors See Bitcoin Below This Price Level at Year End
A new survey reveals how Wall Street investors and portfolio managers see Bitcoin performing for the rest of the year.
Conducted by CNBC, the survey asked over 100 chief investment officers what they think the price of Bitcoin will be when 2021 comes to a close.
Coming in at 44%, the most common answer from the survey participants was “below $30,000,” indicating a generally bearish outlook from Wall Street investors on the king cryptocurrency.
Twenty-five percent of respondents believe the price of Bitcoin will be $40,000 by the end of the year, and another 25% predict BTC will be sitting at $50,000.
Only 6% of survey participants believe that Bitcoin will finish 2021 at the $60,000 level.
Results of the CNBC survey align with another poll conducted in June by Bank of America, which found that 81% of fund managers believe Bitcoin is still in a bubble.
While nearly half of Wall Street investors polled believe that Bitcoin will trade lower by the end of the year, widely-followed crypto analyst PlanB has predicted that BTC’s price will not go lower than $135,000 in December.
For PlanB’s forecast to be correct, the world’s flagship crypto asset would have to rally by over 294% in the coming months from its current price of $34,207.
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