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Author Topic: 82% of Institutional Crypto Investors Believe Bitcoin Price Has Bottomed  (Read 234 times)
Powerpuff
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April 26, 2018, 02:42:53 PM
 #1

Institutional investors that have already invested in cryptoassets and are long-term bullish on the industry believe that the Bitcoin price has already bottomed out and will end the year above where it is currently trading.

That’s according to an informal survey conducted by Wall Street strategist Fundstrat Global Advisors, who administered it at a recent lunch attended by institutional cryptocurrency investors.

CRYPTO: We hosted a small group of institutional investors on 4/23, mix of crypto and traditional macro HF/long-only. Results below. Key takeaway, institutions believe #BTC bottomed. We see this as a leading indicator for inflows of big money into Crypto pic.twitter.com/NybWPTZTg4

    — Thomas Lee (@fundstrat) April 24, 2018

The survey found that 82 percent of investors believe that the Bitcoin price has bottomed and 53 percent believe it will end the year between $10,000 and $20,000. Another 41 percent anticipate that it will trade between $20,000 and $30,000 at the end of 2018, while six percent predict it will ring in the new year above $30,000.

Significantly, 40 percent of attendees responded that John McAfee will win his bet that the Bitcoin price will reach $1 million by the end of 2020, though it is unclear whether they are actually that bullish or they just do not want to have to see what will happen if he loses.

For his part, Fundstrat founder Tom Lee — who has set a year-end Bitcoin price target at $25,000 — said that he believes $1 million is possible but that the firm isn’t placing money on that wager.

    “We are not staking anything on that, but I think $1mm is possible,” Lee said on Twitter, adding that it’s “not our base case, but certainly possible.”

Two-thirds of respondents said that they do not think Ethereum will be classified as a security token, though nearly half also said that they do not believe the US Securities and Exchange Commission (SEC) will provide regulatory clarity regarding tokens and securities regulations in 2018.

This is notable, given that former Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler recently said that he believes both Ethereum and Ripple’s XRP token are “noncompliant securities,” though he theorized that Ethereum was the more likely of the two to evade that classification.

The investors also predicted by a wide margin that Goldman Sachs will be the first major bank to offer cryptocurrency trading for institutional clients, which increasingly appears likely given that the firm recently hired an executive to develop its digital asset market strategy.

Source: https://www.ccn.com/82-of-institutional-crypto-investors-believe-bitcoin-price-has-bottomed/
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April 27, 2018, 03:40:39 AM
 #2

Most of the time investors are going to be divided about where we are, whether this is a recovery or not and that we will see the price decreasing again, but when we have so many investors agreeing on the same thing then you can be very sure that they are most likely right and I think that many people in the forum will agree with them as well.
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April 27, 2018, 05:07:53 AM
 #3

There is a chance that bitcoin may go lower following the correction that may happen in the near future, as this rally comes to an end.

However, I'd probably say that even if BTC does go lower than the previous $6k bottom, it probably won't go down much further than that. The support at $6k is extremely strong, and whenever BTC had come near it it rebounded swiftly each time.

With the huge influx of institutional investors in BTC, we can probably see BTC's prices starting to appreciate drastically, as soon as this bear market is over. But it will take time, in my opinion. Nothing of this sort happens overnight.

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April 27, 2018, 06:11:38 AM
Merited by LFC_Bitcoin (1)
 #4

I also think most of non-institutional investors believe the same. The good point is that believes have an effect on price: people believe price is going to go up and keep holding/buying, thus the price goes up.
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April 27, 2018, 06:42:21 AM
 #5

I believe OP's news and the CME Group's announcement that there were 11,000 Bitcoin contracts traded yesterday, amounting to about $500,000,000 in value is not a coincidence.

The institutional investors do not only believe that it has "bottomed out", but "they" have already put their money where their mouth is. Cool


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April 27, 2018, 06:53:49 AM
 #6

There is no such story as Bitcoin Price Has Bottomed. We are not in a conventional economy. Bitcoin's main concern is still regulation and how governments and society will see it. Just as it is impossible to predict how far it will go.

  • What if there is a small country adopting bitcoin as reserves, just like the dollar?
  • What if we have a small country in Africa deciding that any international exchange between their companies should be done with Bitcoin?
  • What if Trump decides to end it all?

The future is uncertain and this is wonderful.
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April 27, 2018, 07:19:00 AM
 #7

There is no such story as Bitcoin Price Has Bottomed. We are not in a conventional economy. Bitcoin's main concern is still regulation and how governments and society will see it. Just as it is impossible to predict how far it will go.

  • What if there is a small country adopting bitcoin as reserves, just like the dollar?
  • What if we have a small country in Africa deciding that any international exchange between their companies should be done with Bitcoin?
  • What if Trump decides to end it all?

The future is uncertain and this is wonderful.

i could not agree more,
why people kept believing something like that when they knew the fact that cryptocurrency and any other regular conventional economy were different.
the most important thing that we need to know is 'demand' itself not something like this.
so no matter what,it won't change the fact that it is moving as it wish.
even though someone said it's bottomed or something like that we know that nothing will change


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April 27, 2018, 08:54:19 AM
 #8

I also think most of non-institutional investors believe the same. The good point is that believes have an effect on price: people believe price is going to go up and keep holding/buying, thus the price goes up.

I think anything below $10,000 is cheap coins. If people are no coiners then it’s still a fantastic chance to buy in now & potentially make very handsome profits in the future.

Just wait until after the halving, we will see ridiculously high prices. 




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April 28, 2018, 06:14:12 AM
 #9

Most of the time investors are going to be divided about where we are, whether this is a recovery or not and that we will see the price decreasing again, but when we have so many investors agreeing on the same thing then you can be very sure that they are most likely right and I think that many people in the forum will agree with them as well.
Well, the institutional investors will make the world to believe what they want to believe and most especially their followers. First, they believed, and that does not make the statement affirmative. Secondly, anything can change and which they will always know what to do at any point in time which as far as I am concerned, they are some caucus anyway.

All the above, looking at the behavior of the market and the weekly chart, we can see that the market is actually showing some long term signal of growth after breaking out from the downtrend, let's just hope the market does not come with any more surprises that tends otherwise.


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April 28, 2018, 10:32:53 AM
 #10

That could be the reason that the bitcoin's price is now recovering, most of the investors sees 5K as a very strong psychological support, and there is no way that the price will reach below that for long as people will soon bring more money in order to buy coins at that price.

On the other hand bitcoin's price is hard to predict and any bad news has the ability to break any strong support level, always invest money that you can afford to lose and make sure that you understand the risks that are involved in bitcoin trading.

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April 28, 2018, 10:35:29 AM
 #11

How many institutional crypto investors are there? How long have they been at it? Why is their opinion more valid than someone on here who's been studying these markets for years?

An investor coming in from elsewhere may well be cross infected by old school markets that behave in vastly more predictable ways.

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April 28, 2018, 10:38:16 AM
 #12

How many institutional crypto investors are there? How long have they been at it? Why is their opinion more valid than someone on here who's been studying these markets for years?

An investor coming in from elsewhere may well be cross infected by old school markets that behave in vastly more predictable ways.

Their opinion isn't more valid, they just bring in that big money  Cool
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April 28, 2018, 10:42:47 AM
Last edit: April 28, 2018, 03:19:40 PM by gentlemand
 #13

Their opinion isn't more valid, they just bring in that big money  Cool

Guess so but much of it will be OTC and on futures markets so it all that money won't be touching the actual BTC market. It profits from it, but doesn't drive it with much vigour.

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April 28, 2018, 03:18:49 PM
 #14

Most of the time investors are going to be divided about where we are, whether this is a recovery or not and that we will see the price decreasing again, but when we have so many investors agreeing on the same thing then you can be very sure that they are most likely right and I think that many people in the forum will agree with them as well.
Well, the institutional investors will make the world to believe what they want to believe and most especially their followers. First, they believed, and that does not make the statement affirmative. Secondly, anything can change and which they will always know what to do at any point in time which as far as I am concerned, they are some caucus anyway.

All the above, looking at the behavior of the market and the weekly chart, we can see that the market is actually showing some long term signal of growth after breaking out from the downtrend, let's just hope the market does not come with any more surprises that tends otherwise.
Crypto world is all full of surprises bro, only a few people may know about the actual situation to be happening next otherwise, mostly people go for kinda bet situation.
One thing is sure and everyone is agreed upon it that the future is bitcoin but no one knows exactly the time. I remember in the mid December of last year and in the beginning of this year we use to talk about the price to reach to $50K and now we are discussing it to cross $10K. According to the experts this is the Fibonacci support point and the price will show a high jump after a little resistance. Let’s hope for it.
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April 28, 2018, 05:39:47 PM
 #15

As we all know, cryptomarket's movement is also based on the community's psychology on whether we are in a bull season or in a bear one. And hearing (or reading, actually  Grin ) the OP's post, that certainly can be the case right now. With the survey that they got, if people think that we already bottomed out, it would probably true. If that notion will be taken by the community as a whole, they will be starting to invest their fiat again into cryptocurrencies and will turn a great, imminent bull run.

But, don't forget that there are huge whales out there who can move the market by themselves. Just saying.
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April 28, 2018, 06:15:55 PM
 #16

Whenever institutions/funds act like this, you should be skeptical. Remember that their lunch money comes from you, the retail trader. They are trading against you.

If we bust through the $11,000s in the coming weeks, there's going to be a lot of fomo and anticipation of new ATHs. I suspect large players will be selling into that fomo and that a longer correction is on the cards.

Their opinion isn't more valid, they just bring in that big money  Cool

Guess so but much of it will be OTC and on futures markets so it all that money won't be touching the actual BTC market. It profits from it, but doesn't drive it with much vigour.

The OTC market has a major effect on the spot market. Lack of OTC demand means additional supply on exchanges. I also think futures markets have a perceptual effect on the market. People react to them.

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April 28, 2018, 07:21:05 PM
 #17

I also think futures markets have a perceptual effect on the market. People react to them.

Yes. Which I have to say I'm pretty disgusted by. There has always been an underlying desire in many to defer to what they see as a higher authority, even though said higher authority did fuck all to build the market they're exploiting and can and should be roundly ignored.

Crypto fans will only have themselves to blame if they sit back and let it become just another hollow bitch like the gold markets.

As for OTC, I suppose we'll never know. I would've thought the amounts were so vast that they'd steer clear of exchanges because they're not practical but what do I know?

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April 28, 2018, 08:37:55 PM
 #18

I also think most of non-institutional investors believe the same. The good point is that believes have an effect on price: people believe price is going to go up and keep holding/buying, thus the price goes up.

I think anything below $10,000 is cheap coins. If people are no coiners then it’s still a fantastic chance to buy in now & potentially make very handsome profits in the future.

Just wait until after the halving, we will see ridiculously high prices. 

The next block reward halving is more than a couple of years away. Most of the people who recently entered cryptocurrencies do not have such patience. Moreover it is the forks which are resulting in a rally these days.


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April 28, 2018, 08:42:44 PM
 #19

The next block reward halving is more than a couple of years away. Most of the people who recently entered cryptocurrencies do not have such patience. Moreover it is the forks which are resulting in a rally these days.

For Bitcoin at least the forks have been so ridiculously battered to death that they've neutralised themselves now. They've gotten lost in a sea of shite. Forkage is toast.

And if people can't wait for the halving, there are many others who can who'll help themselves to the benefits. I'd hope newcomers were bright enough to do a bit of reading and realise what it might entail. There's enough history now to draw on.

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April 28, 2018, 09:39:36 PM
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 #20

I'd hope newcomers were bright enough to do a bit of reading and realise what it might entail. There's enough history now to draw on.

History that 90% of the newer people will probably never read into with how greed is their only guide in this market. It's basically the same with all the schemes that have been here for years. If we look at how cloud mining has become less profitable than ever before, and how all the newbies keep ignoring that, which also applies to all the complaints and scams, it's clear that they will not bother diving into the past to educate themselves. I used to get annoyed with people not doing any effort to learn about what they buy themselves into, but it's not worth any of my attention. People should do what they want, where they eventually will learn things the hard way -- losing money seems to be their only mentor.
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