Bitcoin May Drop Below $30K – Wall Street Investment Directors Survey

CNBC interviewed over 100 Wall Street investment directors about their predictions for Bitcoin’s price by the end of 2021.

Roughly 44% of participants are expecting that Bitcoin’s price drops below $30,000 by the end of the year. This point of view indicates that they are clearly holding on to the bearish sentiment on the cryptocurrency market.

25% of respondents believe that by the end of the year the rate of the first cryptocurrency will be approximately $40,000. And another 25% are confident that Bitcoin will rise to $50,000.

Only 6% of participants are very optimistic and think that Bitcoin will reach the $60,000 price level.

The CNBC poll results are in line with another poll conducted in June by Bank of America, having revealed that 81% of fund managers believe Bitcoin is still in a bubble.

While nearly half of the Wall Street investors believe that Bitcoin will trade below $30,000 by the end of the year, JPMorgan’s analyst Nikolaos Panigirtzoglou in his latest research note to clients suggested that Bitcoin will soon decline to $24,000. But in the long term, the rate will go up and may reach $145,000.

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