Bitcoin investors more bullish than ever, says survey

15 Jun 2021

Investors are more bullish than ever before regarding crypto, despite Bitcoin and the crypto market in general experiencing one of the worst crashes recently.

The findings are part of a Q2 retail investment survey carried out by crypto firm Voyager Digital, which polled 3,671 high-frequency traders.

The survey showed 81% of respondents are more confident than ever in the future of crypto, despite the crash in April and May, when Bitcoin and other currencies lost over 50% of their value, Cointelegraph reports.

Around 87% of those polled said they plan to increase their cryptocurrency holdings over the coming quarter, compared to 80% who said the same in the first quarter.

In addition, 39% of respondents forecast the Bitcoin price to fall between $56,000 and $70,000 by the end of the third quarter this year, whilst 28% expect the price to be between $41,000 and $55,000.

In regard to altcoins, respondents to the survey were most bullish on Cardano, totalling 55%, above any other altcoin. Dogecoin came second with 11% followed by LINK and DOT, both at 6%.

Voyager Digital CEO Steve Ehrlich said it was reassuring to see continued support in the cryptocurrency market despite the recent crash. 

“The fact that the vast majority of our large sample size of investors are more confident in the future of cryptocurrency shows how people see May’s volatility in many crypto assets as a buying opportunity,” he said.

“Our findings show that 87% of investors are looking to increase their crypto holdings in the next quarter, a much higher percentage compared to the last survey we conducted in April,” he went on to add.