After stomach-churning levels of volatility in recent weeks, it appears that crypto investors are beginning to feel a little bit more confident.
According to a new survey by Voyager Digital, 87% of respondents are actually planning to increase their holdings in the coming three months.
While 28% expect that Bitcoin’s price will be between $41,000 and $55,000 by the end of September, 39% say they’re confident it’ll be worth between $56,000 and $70,000.
Although 18% predict BTC’s value will have exceeded $71,000 by then, this is an ever-so-slight drop on the 20% who felt the same way during Voyager’s last poll.
Another interesting insight relates to the altcoins that investors are most bullish about. Cardano tops the list on 55%, followed by Dogecoin on 11%. Chainlink and Polkadot are both tied on 6%.
Responding to the findings, Voyager’s CEO Steve Ehrlich said:
“It’s encouraging that investors remain bullish following the recent market correction as we continue to see some interesting trends in our user sentiment surveys. 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 cryptoassets as a buying opportunity.”
Bullish Momentum Ahead?
The upbeat outlook came as Bitcoin cracked $40,000 for the first time in several weeks.
Right now, the Bitcoin Fear & Greed Index is flashing a score of 38, indicating there’s fear among investors. Although this may sound gloomy, it’s a big improvement on the “Extreme Fear” score of 13 that was seen this time last week.
Jurrien Timmer, the director of global macro at Fidelity, has confidently declared that he believes the bottom is now in for Bitcoin.
In other bullish news, a survey of chief financial officers suggests that hedge funds are planning to significantly increase their exposure to cryptocurrencies in the coming five years.
On average, executives expect to hold 7.2% of their assets in crypto by 2025, the Intertrust poll indicates. If this was replicated across the whole hedge fund sector, this would be worth $312 billion.