25% of respondents believe that the rate of the first cryptocurrency will reach $40,000 at that time. A similar proportion of respondents chose the $50,000 level, and only 6% predict bitcoin will close the year at $60,000.
CNBC’s quarterly markets survey includes about 100 investment directors, equity strategists, and portfolio managers.
In discussing the results, the anchors broadly agreed with the short-term outlook for the price of the leading cryptocurrency and noted that even $30,000 for year-end would allay many market participants’ fears by setting a long-term bottom.
First Cryptocurrency began 2021 with quotes just below $30,000. The price peaked at levels above $64,000 in April. In May, the rate collapsed below $40,000.
As of this writing, bitcoin is trading around $34,000.
Recall that analysts at JPMorgan did not rule out a fall in the price of digital gold to $25,000. Guggenheim Partners Investment Director Scott Minerd believes that the rate will fall more radically – to $15,000 or even $10,000.