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The survey revealed that investors are still optimistic about BTC and other cryptocurrencies, despite the recent market downturn.
Despite the fact that Bitcoin (BTC) and the wider cryptocurrency market are experiencing one of the worst declines in recent history, investors are obviously bullish more than ever when it comes to the future wealth of bitcoins and altcoins.
This is the result of a Q2 retail investment survey conducted by crypto Voyager Digital, which addressed 3,671 high-frequency traders on the Voyager platform.
Almost 81% of respondents still see a promising future in cryptocurrencies, even after a sharp drop in prices in April and May, when BTC lost more than 50% of its value.
However, many coins have recovered significantly since then, although the market remains uncertain. Despite this, 87% of survey respondents said they plan to increase their cryptocurrency stocks in the next quarter, up 80% from the first quarter survey.
About 39% of respondents said they expected the price of BTC to drop to $ 56,000 to $ 70,000 by the end of the third quarter of 2021, while 28% predicted a price between $ 41,000 and $ 55,000. The percentage of respondents who believed BTC would reach $ 71,000 was 18%, up from 20% in the previous survey.
Interestingly, more than nine out of 10 respondents said they thought the US Securities and Exchange Commission would eventually approve the BTC ETF, an exchange-traded fund that cryptocurrents believe will increase the value of BTC by exposes to institutional investments.
According to the survey, Cardano (ADA) is without a doubt one of the most popular altcoins. About 55% said the ADA would be higher than other altcoins. The second favorite is Dogecoin (Doge) with 11% behind him, Chainlink LINK (6%) and Polkadot DOT (also 6%).
Opportunity to buy
Voyager Digital CEO Steve Ehrlich said it was encouraging to see continued faith in the cryptocurrency market despite the recent fall. Ehrlich suggested that the survey results suggest that most investors see the recent market downturn as an opportunity to buy rather than a harbinger of the worst.
“The fact that the vast majority of our large sample of investors is more confident about the future of cryptocurrencies shows how people perceive volatility in many cryptocurrencies as an opportunity to buy.”
Said by Ehrlich.
“Our findings show that 87% of investors are looking to increase their cryptocurrency rates in the next quarter, a much higher percentage compared to the last survey we conducted in April.”
Over the last few days, BTC and other cryptocurrencies have picked up, with BTC currently trading at $ 40,000. Some analysts also believe that the currency will stabilize at this level and will not fall again. However, the world of cryptocurrencies is unpredictable and anything can happen, from hour to hour. However, the positive outlook of investors is always a good sign.