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27th January 2023
Professional investors are forecasting a strong year ahead for Bitcoin-Nickel
Trend
Professional investors are forecasting a strong year ahead for Bitcoin and are confident about its long-term valuation, according to new research by London-based Nickel Digital Asset Management(Nickel).
Nickel commissioned research with 200 institutional investors and wealth managers from across seven countries who collectively manage around $2.85tr in assets and found 87% expect the price of Bitcoin to end the year ahead of $17,000 at the time of survey. They include nearly one in four(23%) who forecast Bitcoin’s price will exceed $30,000 by the end of 2023 and the study found high levels of confidence about the long-term price trend for the cryptocurrency.
Nearly two out of three(65%) agree Bitcoin could still hit the long-predicted $100,000 valuation but only in the long-term. Around 58% of those who believe $100,000 is possible, think it could be achieved within three to five years, while 25% say it could be hit within five years or more.
Around three-quarters(76%) expect Bitcoin to reach its November 2021 peak of $69,000 within five years with 39% predicting the previous record high will be passed within three years. Just 3% questioned whether Bitcoin will ever reach previous all-time-high of $69,000 again.
Anatoly Crachilov, CEO and Founding Partner at Nickel Digital, said “Price predictions in the cryptocurrency market is always a daunting task, however the most significant finding in our survey is that only 3% of investors are questioning bitcoin’s future.”
Nickel Digital Trends(14 articles)
