Survey: More Than Half Of Institutional Investors Think That Bitcoin Has Already ‘Bottomed’

A new survey issued by Fundstrat is in the latest news on our DC Forecasts crypto news site – this time with a topic that is closely related to Bitcoin’s ‘bottom’ price that appears to be viral everywhere online.

As Fundstrat reported, even 54% of the institutional investors appear to be more bullish on Bitcoin (BTC) than the other members of the crypto community on Twitter. The results of this survey were first revealed to the public by Tom Lee, who is the head of research for the company in a live CNBC show on October 4th.

CRYPTO POLL (3 of 6 questions):
When do you think Bitcoin will bottom?

— Thomas Lee (@fundstrat) September 30, 2018

As Lee revealed, he surveyed 25 institutions and had 9,500 responses to a public Twitter poll that was conducted on September 30th – which led to the results that Wall Street is calling a bottom on Bitcoin.

What is also interesting is the fact that institutional investors are also bullish in regards to the growth of Bitcoin. As 57% of them said, the Bitcoin’s price is going to reach anywhere from $15,000 to “the moon” by the end of next year.

Meanwhile, the crypto community on Twitter appears to be less optimistic about Bitcoin. As 66% of the respondents who answered Lee’s Twitter poll have noted, Bitcoin can still drop lower than it is right now – and only 40% of them said that it is likely to reach $15,000 by 2019.

Lee, on the other hand, appears to be sticking to his earlier price predictions about Bitcoin and its potential to trade between $22,000 and $25,000 by the end of this year. However, he also made another optimistic prediction lately about Ethereum. Talking to Bloomberg, Lee said that ETH is about to see a “trend reversal and rally strongly” even up to $1,900 by the end of this year.