A recent survey by crypto firm Voyager Digital revealed that investors are remaining bullish on crypto despite the recent crypto market crash. In May, Bitcoin fell as much as 50%, dragging most altcoins to their lowest. Although the crypto market is gradually recovering, many altcoins are still struggling with the rebound.
About 3,671 traders on the Voyager platform participated in the survey, with 81% positive about the future of cryptocurrency. Also, 87% of the total respondents revealed plans to increase their crypto holdings over the coming quarter. This is a 7% increase over the 80% that said they would add to their crypto holdings in Q1.
Speaking further of Bitcoin, 39% said BTC would trade around $56,000 and $70,000 by the end of the third quarter. On the other hand, 28% of respondents placed a price target of $41,000 to $55,000 on BTC for the same quarter.
A previous Voyager Digital survey showed that 20% of traders expect Bitcoin to increase to $71,000. However, the recent survey revealed 18% now expect BTC to reach a price valuation of $71,000. At press time, Bitcoin is trading at $41,161.
Additionally, 9 of 10 respondents said they believe that the US Securities and Exchange Commission (SEC) will approve a Bitcoin ETF.
Image Credits: Pixabay
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