That’s according to an informal survey conducted by Wall Street strategist Fundstrat Global Advisors, who administered it at a recent lunch attended by institutional cryptocurrency investors.
CRYPTO: We hosted a small group of institutional investors on 4/23, mix of crypto and traditional macro HF/long-only. Results below. Key takeaway, institutions believe #BTC bottomed. We see this as a leading indicator for inflows of big money into Crypto pic.twitter.com/NybWPTZTg4
— Thomas Lee (@fundstrat) April 24, 2018
The survey found that 82 percent of investors believe that the Bitcoin price has bottomed and 53 percent believe it will end the year between $10,000 and $20,000. Another 41 percent anticipate that it will trade between $20,000 and $30,000 at the end of 2018, while six percent predict it will ring in the new year above $30,000.
Significantly, 40 percent of attendees responded that John McAfee will win his bet that the Bitcoin price will reach $1 million by the end of 2020, though it is unclear whether they are actually that bullish or they just do not want to have to see what will happen if he loses…