Investment bank Goldman Sachs shared the results of a survey among its clients about how much they think bitcoin will cost in the near future. About 76% of respondents believe that bitcoin will stay above the $ 40,000 mark in 2021. About 40% of the respondents own digital assets, while the rest are generally considering investing in cryptocurrencies in the near future. About 60% of the total number of owners expects an increase in the value of BTC in the next 1-2 years. More than half of the respondents believe that bitcoin will trade in the range of $ 40,000 - $ 100,000 in 2021. At the same time, 39% of respondents are not ready to invest in bitcoin or other digital assets in the near future.
At the same time, analysts of the cryptocurrency company CrossTower believe that it is institutional investors who will eventually keep bitcoin above the $ 50,000 level. According to the company, the number of wallets that aggregate more than 1000 BTC has grown significantly recently. According to the company's analysts, this indicates an increase in interest in "digital gold" from large investors. Also, according to the company, this indicates that the high price does not deter institutionalists. Interest in bitcoin among investors remains consistently high even at the price of $ 50,000 per coin. "Many large investors in the February fall in the bitcoin exchange rate saw an opportunity to buy bitcoin at a more attractive price," the company said.
Thus, if you try to analyze the mood of large investors, it seems that most of them are inclined to believe that bitcoin will continue to grow over the next 12-24 months. Only the figures that are called a cost forecast differ. We would like to note once again that, judging by history, bitcoin rarely forms long-term upward trend sections. Usually, a strong growth takes 5-6 months, after which the price goes into a strong correction, after which there is a period of stagnation, which can last 1-3 years. Thus, we do not yet believe in the scenario according to which there will be no strong downward correction. We expect that the correction will be at least 50% of the total growth. That's about $ 25,000 down.
The material has been provided by InstaForex Company - www.instaforex.com