Despite the recent market slump, investors are still optimistic about Bitcoin and other cryptocurrencies, according to a crypto business Voyager Digital study.
Despite Bitcoin and the broader cryptocurrency market seeing one of the most significant drops in recent memory, investors seemed to be more optimistic than ever about Bitcoin and other cryptocurrencies’ future fortunes. According to a Q2 retail investment study done by crypto startup Voyager Digital, which interviewed 3,671 high-frequency traders on the Voyager platform, this is the case.
The latest meltdown had little impact on the confidence of crypto investors.
Even after the spectacular price fall in April and May, when Bitcoin and other altcoins lost more than half of their value in a flash, the study found that 81 percent of respondents felt more optimistic about the future of cryptocurrency. Although the market remains unpredictable, Bitcoin and several other currencies have rebounded dramatically since then. Despite this, 87 percent of respondents indicated they wanted to grow their crypto holdings in the coming quarter, up from 80 percent in the first quarter. Bitcoin is now trading just around $40,000 at the time of writing.
By the end of Q3 2021, 39% of respondents estimate Bitcoin to be worth between $56,000 and 70,000 dollars.
By the end of Q3 2021, over 39 percent of respondents estimate the Bitcoin price to be between $56,000 and $70,000, while 28% forecast a price between $41,000 and $55,000. The number of respondents who predicted Bitcoin would reach a cost of $71,000 was 18 percent, down from 20% in the previous survey. Cardano emerged as the most popular altcoin among those who stated they were most bullish on it. Cardano was favored by 55 percent of respondents over all other altcoins, with Dogecoin coming in second with 11 percent, followed by Chainlink and Polkadot.