82% of Institutional Crypto Investors Believe Bitcoin Price Has Bottomed

Institutional investors that have already invested in cryptoassets and are long-term bullish on the industry believe that the Bitcoin price has already bottomed out and will end the year above where it is currently trading.

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.

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…

Read Full: 82% of Institutional Crypto Investors Believe Bitcoin Price Has Bottomed