TL;DR Breakdown
- About 44 percent of Wall Street investment managers put Bitcoin below $30K.
- A study was conducted on around 100 chief investors of Wall Street by CNBC.
- The survey lasted for about seven days, from June 23 to June 30.
A survey on major Wall Street investors conducted by CNBC has revealed major statistics on Bitcoin price for the end of 2021. The study conducted on 100 influential and prominent Wall Street investment managers discloses the fact that in the coming months, it is possible for Bitcoin prices to drop under $30k. In the past few weeks, Bitcoin’s bull run has taken a huge toll.
It is the belief of many investors that Bitcoin will drop further. The current price of the BTC/USDT pair is around $33,500. The cryptocurrency was able to rise above $30k and is now trying to test major support levels. According to the CNBC study, 44 percent of investors ruled in favor of $30K price, 25 percent in favor of $40k, 25 percent in favor of $50K, and the rest 6 percent rested with $60K.
Source: Tradingview
Bloomberg rests Bitcoin price at $100K by the end of 2021
Bloomberg is optimistic regarding the price of Bitcoin. It expects that price of Bitcoin will reach $100K when 2021 ends. There are multiple reasons for the expected price forecast, the foremost being the adoption of Bitcoin by El Salvador and growing Ethereum chain projects. Bloomberg predicts that it is improbable that Bitcoin will drop under $20,000.
In the past few weeks, Bitcoin has held strong support at around $29K, and it is expected to remain above it. Bloomberg comments that it is nearly impossible for the coin to fall back to $15K opposing the results of the survey conducted by CNBC on the Wall Street investment managers.
From Zero to Web3 Pro: Your 90-Day Career Launch Plan
