Institutional investors who have already invested in crypto-currencies and who are optimistic about the industry over the long term believe that the price of Bitcoin has already reached its lowest level and will end the year above the levels current.
This is according to an informal survey conducted by Wall Street strategist Fundstrat Global Advisors, who administered it at a recent luncheon hosted by institutional cryptocurrency investors.
The survey revealed that 82% of investors believe that the Bitcoin price has bottomed out and 53% think it will end the year between $ 10,000 and $ 20,000. Another 41% expect it to trade between $ 20,000 and $ 30,000 by the end of 2018, while six per cent expect it to reach the New Year above $ 30,000.
Significantly, 40% of respondents said John McAfee would bet that the Bitcoin price will reach $ 1 million by the end of 2020, although it is not clear whether they are really bullish or they do not want to see what will happen. to arrive if he loses.
For his part, Fundstrat founder Tom Lee, who set Bitcoin's target price of $ 25,000 at the end of the year, said he believed $ 1 million was possible, but company did not pay money.
Two-thirds of respondents said they did not think qu'Ethereum would be classified as a security, but nearly half also said they did not think the Securities and Exchange Commission (SEC) would provide regulatory clarifications on tokens and stock market regulations in 2018.
It should be noted that Gary Gensler, former president of the CFTC, recently stated that he thought the Ethereum and Ripple XRP tokens were "non-compliant titles", although he theorized that Ethereum was the more likely to escape this classification. .
Investors also predicted that Goldman Sachs would be the first major bank to offer cryptocurrency services to institutional clients, which seems increasingly likely as the company recently hired a senior executive to develop its market strategy for digital assets.