Despite the 50% price plunge, Bitcoin investors are more bullish than ever: survey

Although Bitcoin (Bitcoin) And the broader cryptocurrency market has experienced one of the worst crashes in recent memory, and investors are clearly more optimistic about the future fate of Bitcoin and a large number of altcoins than ever before.

This is based on the results of the second quarter retail investment survey conducted by crypto company Voyager Digital, which surveyed 3,671 high-frequency traders on the Voyager platform.

The survey results show that 81% of respondents are more confident about the future of cryptocurrency, even in Dramatic price collapse In April and May, the value of Bitcoin and other Bitcoins shrank by more than 50%.

Although the market is still uncertain, many tokens have rebounded significantly. Despite this, 87% of survey respondents stated that they plan to increase their cryptocurrency holdings in the next quarter—an increase from 80% of respondents in the first quarter.

Approximately 39% of respondents stated that they expect the price of Bitcoin to be between US$56,000 and US$70,000 by the end of the third quarter of 2021, while 28% of respondents expect the price of Bitcoin to be between US$41,000 and US$55,000 between. The proportion of respondents who believe that the price of Bitcoin will reach $71,000 is 18%, which is lower than the 20% in the previous survey.

It’s worth noting that more than nine out of ten respondents said that they think the US Securities and Exchange Commission will eventually approve a Bitcoin ETF — An exchange-traded fund that cryptocurrency proponents believe will increase the value of Bitcoin by exposing it to institutional investment.

Among the most optimistic altcoins of the interviewees, Cardano (Have) Turns out to be the most popular. Approximately 55% of people said that they are optimistic about Cardano more than any other altcoin, Dogecoin (dog) Came in second (11%), followed by Chain link (Link) (6%) and polka dot (Points) (6%).

Voyager Digital CEO Steve Ehrlich said that despite the recent crash, it is encouraging to see continued confidence in the cryptocurrency market. Ehrlich said that the survey results show that most investors view the recent market decline as a buying opportunity, rather than a worse sign.

Ehrlich said: “In fact, the vast majority of our large sample of investors are more confident in the future of cryptocurrencies, which shows how people see the volatility of many of May’s crypto assets as buying opportunities.”

“Our survey results show that 87% of investors want to increase their cryptocurrency holdings in the next quarter, which is much higher than our last survey conducted in April,” he added .