Will the price of bitcoin hit $100,000 this year? 65% of institutional investors say yes!

A new survey shows that institutional investors expect a “strong year for bitcoin” and are confident about the long-term valuation of the crypto-currency. In addition, 65 percent of institutional investors surveyed believe bitcoin could reach $100,000.

A strong year for bitcoin

Nickel Digital Asset Management on Thursday released the results of a survey showing how much institutional investors expect the price of bitcoin to spike. The London-based investment manager is registered with the U.K. Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC).

The survey, commissioned by Nickel and conducted by market research firm Pureprofile this month, polled 200 institutional investors and wealth managers in the U.S., U.K., Germany, Singapore, Switzerland, the United Arab Emirates and Brazil. The respondents collectively managed about $2.85 trillion in assets.

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In sharing the survey results, Nickel detailed:

Professional investors predict a strong year for bitcoin and are confident about its long-term valuation. Nearly nine in 10 professional investors expect bitcoin’s price to rise this year. Two out of three agree that a $100,000 valuation is possible, but only for long-term investors.

Regarding the price of bitcoin, the asset manager said, “The study revealed high levels of confidence in the long-term trend of the crypto-currency,” adding that 23 percent of those surveyed predicted the price of bitcoin would rise this year and exceed $30,000 by the end of 2023.

In addition, 65% of institutional investors surveyed believe bitcoin could still reach $100,000 in the long run. Of those, 58% expect BTC to reach that price level within three to five years, while 25% say it will take five years or more.

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Meanwhile, 39% of total respondents predicted that the price of bitcoin would reach its November 2021 peak of $69,000 within three years, while 76% said it would likely happen within five years. “Only 3% of those surveyed questioned whether bitcoin will reach the previous all-time high again“, the asset management firm noted.

Nickel CEO Anatoly Crachilov commented:

Price predictions in the crypto-currency market are always a daunting task, however the most significant result of our survey is that only 3% of investors question the future of bitcoin.

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