Hello dear followers, especially to friends of the @Leofinance community serve this opportunity to share positive projections on the price action of Bitcoin main cryptocurrency by market capitalization, this according to the considerations of institutional investors and wealth managers.
A bit for context, let's keep in mind that Bitcoin's price action from mid-June to the present has been bouncing around $20,000, while Ethereum fell sharply after its long-awaited energy-saving upgrade, and all of this has occurred against a backdrop of steadily rising interest rates by the Fed.
On the other hand, in recent weeks as stock markets collapsed under pressure from the Fed over fears of rampant inflation Bitcoin's price action first spiked before retreating to just over $18,000.
Now, despite the imbalance of Bitcoin's price action and according to information socialized by the prestigious Forbes platform based on data revealed by a survey of institutional investors and wealth managers, even though the bear market still has some way to go, but within an estimated six months an upward trend change may develop with a strong recovery that according to their projection the Bitcoin could reach $35,000.
While predicting future price action movements of Bitcoin or any cryptocurrency is always a challenging endeavor, however, the survey of institutional investors and wealth managers clearly points to constructive and very optimistic expectations of a price recovery primarily in Bitcoin and Ethereum that will undoubtedly positively impact the rest of the cryptocurrencies.
I would like to know your appreciation of this optimistic outlook from institutional investors and wealth managers of the bullish Bitcoin price action projection.
SOURCES CONSULTED
Forbes. $2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Forbes
