Cryptocurrency

Institutional Investors: Bitcoin Will Hit These Bottoms in December!

A recent CNBC poll has revealed what institutional portfolio managers and stock strategists think about where the Bitcoin (BTC) price might go by the end of this year.

Bitcoin investors predict a decline, according to CNBC survey

According to CNBC host Andrew Ross Sorkin, 44 percent of respondents in this survey of professionals think that the flagship cryptocurrency will remain stable for the rest of 2021 and fall below that level by the end of the year. 25% of respondents believe that Bitcoin will reach $40,000 by the end of 2021. According to the results of the survey, 25 percent of respondents voted for $50,000 – only 6 percent chose $60,000. Sorkin believes that BTC will process below the $30,000 level by the end of the year, but it will rise above $30,000 in the long run.

How did BTC move in the first half of 2021?

Cryptocoin. com, as we have previously reported, in April, BTC reached an all-time high of about $ 65,000 with the financial incentives of the Fed and other central banks and the tweets of Elon Musk. But when Elon Musk announced that Tesla would no longer accept Bitcoin (BTC) due to the large carbon footprint left by crypto mining companies, he started pulling the BTC price down.

This sparked a global campaign against fossil fuel power and caused mining companies to relocate to friendlier countries like Canada and Kazakhstan as China began banning crypto mining. Elon Musk stated that Tesla will continue to accept Bitcoin, with confirmation that 50 percent of the power used by Bitcoin miners is generated from renewable sources.

The latest situation in bitcoin price

The leading cryptocurrency Bitcoin (BTC), which has been hovering around $33,000 since the beginning of July, took off around 11:00 this morning and broke above the $34,500 level. Although it failed to break the $35,000 value level, it is up 2.7 percent in the last 24 hours. Also, it has never gone below $34,500 since 11:00.

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