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Fundstrat Global survey: 54% of institutional investors are confident that Bitcoin has already reached the bottom



According to a recent survey by Fundstrat Global Advisors, financial world institutions have become more optimistic about Bitcoin cryptocurrency (BTC) than members of the cryptocurrency community. This was stated by the managing partner and head of research at the company Tom Lee, based on the results of a survey on the social network Twitter.

Based on the results of a private survey of 25 institutions, as well as 9,500 responses to a public survey conducted on September 30, Tom Lee concluded that Wall Street believes that Bitcoin has already reached its bottom.

54% of respondents surveyed institutions are optimistic about cryptocurrency, saying that bitcoin has already reached its lowest price this year.

Institutional players are also optimistic about the potential future growth of BTC. 57% of respondents said that by the end of 2018, the price of cryptocurrency will reach from 15,000 dollars to "unpredictable limits."

The crypto community on Twitter seems to be less optimistic about Bitcoin. 66% of respondents surveyed in Tom Lee's posts said that the BTC could still fall lower than it is now.

Only 40% agreed that BTC is likely to reach $ 15,000 by the end of 2019.

Tom Lee, who seems to be sticking to his earlier prediction that Bitcoin will trade between $ 22,000 and $ 25,000 by the end of 2018, recently made another optimistic forecast – this time about the large Altcoin Ethereum (ETH). Lee said that Ethereum will experience a “trend reversal and a powerful rally”, up to $ 1900 per token by the end of 2018.

Recall that the CEO of the crypto-investment company Galaxy Digital Capital Management Mike Novograz recently canceled his previous prediction that Bitcoin will reach 45,000 by November 2018. Now the billionaire investor does not expect that the BTC will even pass the threshold of 9000 during 2018.

Recall that earlier the application Circle Invest announced the launch of a new tool for investment portfolios of clients.

Author: Olga Novikova, Freedman Club Crypto News Analyst
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