Equity strategists and portfolio managers were asked about the price of bitcoin by the end of the year. Almost half of the participants surveyed say the price of the cryptocurrency will drop below the $ 30,000 level, but some believe it will drop to $ 60,000.

Bitcoin price expectations at year-end by equity strategists and portfolio managers

Equity strategists and portfolio managers revealed what they think the price of bitcoin will be at the end of 2021 in a CNBC survey, released last week. Each quarter, the media polls about 100 investment managers, equity strategists and portfolio managers about their views on the markets for the rest of the year. The last survey was conducted from June 23 to 30.

According to poll results released last week, 44% of those polled said the price of bitcoin would be below $ 30,000 by the end of the year.

Additionally, 25% of equity strategists and portfolio managers said it would reach $ 40,000 and 25% said it would reach $ 50,000. Only 6% expected BTC price to reach $ 60,000 by the end of the year.

Equity strategists and portfolio managers Survey results. Source: CNBC

Several recent surveys indicate the growing popularity of cryptocurrency investments among institutional investors. The 2021 Trends in Investing Survey, conducted by the Journal of Financial Planning and the Financial Planning Association (FPA), found that more than 26% of financial advisors plan to increase their cryptocurrency recommendation in the next 12 month. Meanwhile, 49% of advisers said clients have asked them to invest in cryptocurrencies in the past six months.

Bank of America’s latest survey of global fund managers showed “long bitcoin” to be the second most frequented transaction for fund managers. Additionally, a global survey of CFOs indicated that hedge funds are likely to significantly increase their holdings of cryptocurrency.

Where do you think the price of bitcoin will be by the end of the year? Let us know in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, CNBC

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