44% Of Experts Say Bitcoin Drops Below $30K at Year End

44% Of Experts Say Bitcoin Drops Below $30K at Year End
  • CNBC conducted a Quarterly Survey from June 23rd to 30th.
  • 44% of experts and investors predict Bitcoin falls below $30K in 2021.
  • Remaining expect BTC to spring back to its former glory.

CNBC conducted a survey with 100 chief investment officers, equity strategists, portfolio managers, and CNBC contributors. The survey question was, “Where will Bitcoin be by the end of the year?”. Answering to the question, out of 100%, 44% of the investors expect bitcoin to fall below $30,00 at the year end. This was the highest rating percent among the other options. 

Moreover, the survey report shows 25% have respondents that bitcoin will surge up to $40,000. The other 25% polled that BTC will shoot-up to $50,000 in the market. The last 6% remained strong stating bitcoin will reach its former price of $60,000. This least voting percent reminds about bitcoin reaching an all-time high over $60,000 in April. 

Further, in the digital world cryptocurrency plays a vital role in the market. The predictions and analysis of the assets can be shared only by playing with cryptos. Bitcoin is the top cryptocurrency still serving as king with true value against all hurdles and speculations. In addition, there are crypto players who invest in bitcoin even at harder times with huge price falls. Notably, many businesses have adopted Bitcoin and other cryptocurrencies as their means of usage. 

Bitcoin’s Downward Trend

Significantly, Bitcoin price continues to remain in a range of $30,000 to $35,000 in recent times. In the last week of June, BTC bottomed out to $29,000 which made the investors feel low. Also, cryptocurrency crackdown in China is the main reason for the price drop. Along with banning cryptocurrency mining and bitcoin payments in Indonesia, Iran, UK, Japan is another cause for the BTC price dip in the market. 

With all these odds, the current price value of bitcoin is $35,315.03 ranking the same top position in the crypto market. This energizes the traders to expect bitcoin to spring back to its former glory.

However, the survey was conducted on a specific demographic and the result might not be an exact prediction. So the crypto investors must analyze the fluctuations and risks involved with cryptocurrency investing and the market status.

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A responsible HR Admin with good experience in an international pharmaceutical company. She is passionate about dedicating her time to share her perspective about crypto and blockchain technology.