During historic highs and lows in bitcoin prices, investors have tried and failed to use traditional signs to understand volatile trends.

CNBC recently conducted a survey of a group of portfolio managers and fund strategists to understand the internal sentiment of the fintech community towards bitcoin. Response to a survey on “Where will Bitcoin be at the end of the year?” Squawk Box reported:

44% say (Bitcoin) will be below $ 30,000 and remain roughly unchanged within a year. Others are more optimistic. ”
Of the remaining 56%, 25% expect the price to rise and pay $ 45,000, while the remaining 25% support BTC at $ 55,000. A small minority of 6% said that bitcoin could bring the bank back to $ 60,000, close to a record high of $ 65,000 since April 2021.

While experts claim that the value of a cryptocurrency can only be matched with its state of use, Bitcoin has established itself as a true store of value against all expectations and assumptions. With sellers panicking financially and changing their views on bitcoin and cryptocurrencies, adoption rates continue to grow steadily around the world, providing unique uses.

Since this survey represents only a small fraction of the cryptocurrency demographics and in no way reflects all investor sentiment, it is recommended that readers do not make investment decisions based on bearish or bullish market discussions.

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Bitcoin’s recent fall of $ 29,000 has shaken investor confidence lately. However, many experienced traders suggested that an upward trend was approaching. When Bitcoin recovers to $ 32,000, traders expect Bitcoin to return to its former glory.

Several other experts have also predicted that the cryptocurrency will gain traction based on the weakness of fiat currencies around the world. Large governments continue to study small economies that have not supported traditional infrastructure.

Source: CoinTelegraph

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