- This global research was conducted by 200 institutional investors and wealth managers located in the United States, the United Kingdom, Germany, Switzerland, Singapore, Brazil, and the United Arab Emirates, managing a total of $3.5 trillion in assets.
- According to the research, only 3% of institutional investors and wealth managers believe that Bitcoin (BTC) will end the year with a price below $30,000 per BTC.
- The future prices of both Bitcoin and Ethereum will be influenced by further developments in these assets, overall market sentiment, news, and macroeconomics.
In a research study conducted with institutional investors and wealth managers, predictions were made regarding the price movement of Bitcoin: Is a target of $100,000 expected?
Institutional Investors Predict Bitcoin Price
A majority of institutional investors and wealth managers expect both Bitcoin (BTC) and Ethereum (ETH) to trade at higher prices than today by the end of the year, with many also anticipating that BTC’s $100,000 price target will largely be achieved within the next five years.
These and other price predictions were discussed in research shared with COINOTAG on September 27. This global research was conducted by 200 institutional investors and wealth managers located in the United States, the United Kingdom, Germany, Switzerland, Singapore, Brazil, and the United Arab Emirates, managing a total of $3.5 trillion in assets.
“Of course, price predictions can be short-termly invalidated by market shocks, but there is real confidence in Bitcoin’s long-term valuation of $100,000. The market’s view on Ethereum is particularly positive, with 99% of participants expecting ETH to end the year above the current level of $1,900.” – Anatoly Crachilov, CEO and Founding Partner of Nickel Digital
According to the research, only 3% of institutional investors and wealth managers believe that Bitcoin will end the year below $30,000 per BTC.
Specifically, 78% of experts believe that by the end of 2023, Bitcoin will be trading between $30,000 and $40,000. Two separate groups, 31%, expect it to be between $32,500 and $35,000, or between $35,000 and $40,000.
Among the surveyed institutional investors and wealth managers, 15% predict Bitcoin will trade in the range of $40,000 to $45,000, while only 1% anticipate a price above $50,000, and 3% expect something between these two last groups.
“Optimism for next year is supporting Bitcoin’s growth as 78% believe that it will reach $100,000, with 57% predicting this will happen within five years.” – Nickel Digital Research
Year-End Ethereum Price Prediction
According to the research, only 1% of institutional investors and wealth managers believe that Ethereum (ETH) will end the year below $1,900 per ETH.
Specifically, 70% of experts believe that by the end of 2023, Ethereum will be trading between $1,900 and $2,500. Two separate groups, 25% and 35%, respectively, expect it to be between $2,000 and $2,250 and between $2,250 and $2,500.
Among the surveyed institutional investors and wealth managers, 23% predict Ethereum will trade in the range of $2,500 to $3,000, while only 1% anticipate a price above $5,000, and 5% expect something between these two last groups.
“An estimated nine out of every ten experts believe that the growth of Bitcoin and Ethereum will increase demand for altcoins.” – Nickel Digital Research
In conclusion, both Bitcoin and Ethereum’s future prices will be influenced by further developments in these assets, overall market sentiment, news, and macroeconomics. Whether these expectations of institutional investors and wealth managers will be met remains to be seen.
