Despite Bitcoin and the wider cryptocurrency market going through one of its worst crashes in recent memory, investors are apparently more bullish than ever regarding the future fortunes of Bitcoin and other cryptocurrencies. That’s according to the results of a Q2 retail investment survey conducted by crypto firm Voyager Digital, which polled 3,671 high-frequency traders on the Voyager platform.
The recent crash did not have any effect on crypto investors’ confidence.
The survey’s findings revealed that 81% of respondents are more confident in the future of cryptocurrency, even after the violent price crash in April and May, which saw Bitcoin and other altcoins lose more than half of their value in a flash. Bitcoin and many other coins have since recovered significantly, although the market remains uncertain. Despite this, 87% of the survey’s respondents said they planned to increase their crypto holdings over the next quarter, increasing the 80% who said the same in Q1. At the time of writing, bitcoin is trading just above $40,000.
39% of respondents expect Bitcoin to reach between $56,000 and $70,000 by the end of Q3 2021.
Around 39% of respondents said they expect the Bitcoin price to be somewhere between $56,000 and $70,000 by the end of Q3 2021, while 28% predicted a Bitcoin price between $41,000 and $55,000. The percentage of respondents who believed Bitcoin would reach a price of $71,000 stood at 18%, down from the previous survey’s figure of 20%. Among the altcoins that respondents said they were most bullish on, Cardano turned out to be the most popular. Some 55% said they were bullish on Cardano above any other altcoin, with Dogecoin coming in second with 11%, followed by Chainlink and Polkadot.