Results from the recently conducted CNBC Quarterly Survey revealed that institutional asset managers believe Bitcoin will decline below $30,000 by the end of 2021. The survey asked institutional asset managers “where will Bitcoin be by the end of 2021”?, providing $30,000, $40,000, $50,000, and $60,000 as options.
Precisely 44% of respondents said that BTC would dive below $30,000, while 25% said the cryptocurrency would reach $40,000 by the end of the year.
According to the survey, 25% of the survey participants believe that the top coin will increase to $40,000, with another 25% predicting that the cryptocurrency will top $50,000 by the end of the year. The remaining 6% are the most bullish, stating that BTC will climb $60,000 by the end of 2021.
Bitcoin saw an upsurge earlier this year, as well as increased adoption among investors. The cryptocurrency grew to a record high of about $65,000 in mid-April before its massive decline, shedding more than 50%. In the last 24 hours, Bitcoin has jumped 19%, and the currency trades at $33,574.
At the same time, miners are being forced out of China as the country intensifies its crypto crackdown.
Image Credits: Pixabay
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