44% of participants in a CNBC survey of institutional investment managers believe that Bitcoin will close 2021 with a price below $30,000.
44% of respondents in #CNBCQuarterlySurvey say #bitcoin will be below $30,000 at the end of the year.
Where do you stand? #btc @andrewrsorkin @BeckyQuick @JoeSquawk discuss: pic.twitter.com/zpPHtSaeWK
— Squawk Box (@SquawkCNBC) July 2, 2021
25% of respondents believe that the rate of the first cryptocurrency at that time will reach $40,000. A similar proportion of respondents chose the level of $50,000, and only 6% predict that bitcoin will close the year at $60,000.
About 100 CTOs, Equity Strategists and Portfolio Managers participate in CNBC’s quarterly market survey.
Discussing the results, the hosts of the TV channel generally agreed with the short-term forecast for the price of the leading cryptocurrency and noted that even $30,000 for the end of the year would remove many of the fears of market participants, setting a long-term bottom.
The first cryptocurrency started 2021 with quotes just below $30,000. The price reached its maximum at levels above $64,000 in April. In May, the rate fell below $40,000.
At the time of writing, Bitcoin is trading at around $34,000.
Recall that JPMorgan analysts did not rule out a fall in the price of digital gold to $25,000. Guggenheim Partners Investment Director Scott Minerd believes that the rate will drop more radically – to $15,000 or even $10,000.
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