A recent CNBC poll has revealed what institutional portfolio managers and stock strategists think about where the dollar price of Bitcoin (BTC) might go by the end of this year.
Bitcoin investors predict decline, according to CNBC survey
According to CNBC host Andrew Ross Sorkin, 44 percent of respondents in this survey of professionals think the leading cryptocurrency will remain stable for the rest of 2021 and fall below that level by the end of the year. 25% of respondents believe that Bitcoin will reach $40,000 by the end of 2021. According to the results of the survey, 25 percent of respondents voted for $50,000 – only 6 percent chose $60,000. Sorkin believes that BTC will trade below the $30,000 level by the end of the year, but will rise above $30,000 in the long run.
How did BTC move in the first half of 2021?
Cryptocoin. com, as we have previously reported, in April, BTC reached an all-time high of about $ 65,000 with the monetary incentives of the Fed and other central banks and the tweets of Elon Musk. However, when Elon Musk announced that Tesla would no longer accept Bitcoin (BTC) due to the large carbon footprint left by the crypto mining companies, he started pulling the BTC price down.
This sparked a global campaign against fossil fuel-based energy and caused mining companies to move to friendlier countries like Canada and Kazakhstan when China began banning crypto mining. Elon Musk stated that Tesla will continue to accept Bitcoin, with confirmation that 50 percent of the energy used by Bitcoin miners is produced from renewable sources.
The latest situation in Bitcoin price
The leading cryptocurrency Bitcoin (BTC), which has been hovering around $33,000 since the beginning of July, took off around 11:00 this morning and broke above the $34,500 level. Although it failed to break the crucial level of $35,000, it is up 2.7 percent in the last 24 hours. It has also never gone below $34,500 since 11:00am.
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