The results of a recent crypto survey may surprise you...
Fundstrat just released their survey on the Current State of Crypto, and the results were pretty interesting to say the least!
If you are not familiar, Fundstrat Global Advisors are a stock and crypto research firm that have taken the lead on Wall Street Crypto Research.
The firm is lead by Tom Lee, a guy who I have written about numerous times on here before.
He has a long track record of success with stock picks and macro forecasts.
His track record in crypto has been a bit spotty to start with, but the research being done by his firm is some of the best in the space.
Back to the survey....
Fundstrat recently conducted a survey comparing the thinking of institutional investors to that of crypto twitter, which is likely made up of mostly retail traders.
The survey was composed of 25 institutions and roughly 9,500 respondents on crypto twitter.
The results can be seen here:
(Source:
)https://twitter.com/PhilCrypto77/status/1047851301990748160
- PhilCrypto77
Do you see what I see?
Looking at the results there are a couple things that really stand out.
Whether bitcoin has bottomed or not is a big one.
Institutions say the lows are in, while retails says there is still more pain to come.
Usually institutions have a better pulse on when to buy and sell than retail does, but not always.
The other interesting thing is that institutions see greater upside by end of this year for bitcoin as well as end of 2019, than crypto twitter.
The primary beneficiary of capital inflows is expected to be bitcoin and for that reason it is expected to significantly outperform according to institutions.
XRP also gets some interesting press in this survey.
Stay informed my friends.
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