BTC to End 2021 below $30K – Wall Street Survey
According to a CNBC survey examining 100 portfolio managers and investment officers, the majority think the leading asset, Bitcoin, will end 2021 beneath $30,000.
Indeed, 2021 has been an unbelievable year as far as the crypto market is concerned. This year surges took Bitcoin to its highest price at $65,000 in mind-April.
Since then, bearishness overtook the market as FUD proliferate. It’s undeniable that the CNBC survey results reflect the FUD.
However, Bloomberg seems to have opposing views. According to the analysis, the prominent digital coin might hit $100K before the end of 2021. What do you think?
44% of Investors See BTC beneath $30K
The investment managers’ survey by CNBC paints an ugly outlook for BTC. 44% of the surveyed think BTC will close this year under $30K.
Meanwhile, 25% believe that the leading cryptocurrency will trade at around $40K by the end of 2021. Whereas 25% aimed at $50K, the remainder 6% see BTC at %60K before 2022 trading sessions.
In evaluating the survey’s outcome, Andrew Sorkin, a CNBC Squawk Box co-anchor, declared that he agrees that BTC would be under $30,000 when looking at short-term gains. He also stated that the coin might surge higher for long-term trading periods, like ten years.
His fellow Joe Kernan bit around the bush on the matter with his bullish comments. Kernan thinks that the $30K BTC value by the year-end is enough to encourage investors.
Bloomberg Predicts $100K
According to its recent cryptocurrency outlook, Bloomberg reports indicate that BTC might trade at $100K by this year’s ending.
Since the crypto had always shown massive uptrends, the reports suggest the BTC can rally towards 100K rather than dipping under $20K.
Bloomberg published the report in June, near the record high FUD that had Bitcoin shading almost 33% of its value in a day.
Most investors were rationalistic about BTC rallying to 100K in early 2021 as the asset extended its new highs. However, the market crash changed the views of many market experts.
JPMorgan claimed that BTC has a chance to claim $100K by 2021 end early in January. However, the financial institution added that such moves would prove Bitcoin unsustainable.
What do you think about Bitcoin by this year’s end? Feel free to share your views below.
