82% of Institutional Crypto Investors Believe Bitcoin Price Has Bottomed

Slow death

legendary

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Quote from: Powerpuff on April 26, 2018, 09:42:53 AM

Significantly, 40 percent of attendees responded that John McAfee will win his bet that the Bitcoin price will reach $1 million by the end of 2020, though it is unclear whether they are actually that bullish or they just do not want to have to see what will happen if he loses.

Really? Are there any more people who believe in the prediction of McAfee? What do these people have in their heads? Is a very exaggerated prediction

Quote from: Powerpuff on April 26, 2018, 09:42:53 AM

For his part, Fundstrat founder Tom Lee — who has set a year-end Bitcoin price target at $25,000

I also believe in this prediction for being less exaggerated and it seems to me that it is something that is possible to achieve, to dream is very good, but we can not dream in exaggeration

Quote from: okala on May 01, 2018, 02:18:49 AM

putting our money into it now should be the wise things to do.

Is a good long-term investment

leea-1334

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Quote from: Denker on May 01, 2018, 04:30:50 AM

Quote from: leea-1334 on May 01, 2018, 02:59:00 AM

I would not jump to any conclusions just for now. Remember that BTC was at below 7k just weeks ago, yes, it looked like a bottom, yes it showed the double bottom, but why not a triple bottom or even a quadruple bottom first? Charts are funny that they can show things we are looking for but Bitcoin does not have our memory to perform according to history. It will do whatever it wants and however soon or long it wants. Of course, it looks good to us at this stage, but I am not ready to call anything for price right now. Wait and see as always.

I agree. As much as encouraging this poll may look and feel like to many of us, there still isn't any clear sign that we couldn't go down again to test 6k another time even fall below it. Bitcoin is a wild beast as we all know, so be careful don't go all in now. Layer in on the way up when we have seen a clear trend reversal. Until then stay cool and be patient.

Yes, and the sooner we all realise this, the better for our health and expectations. I always like to think a bit pessimisticly even though I truly believe in the long-term value and technology of Bitcoin. I will not say my trust is in anything else right now, but I still want to ground my beliefs in the reality that we have been shown over and over again. Bitcoin is volatile, that is the nature of this new asset and we must learn to live with it. And never throw everything into one hat. Always practice safety and caution.

Denker

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Quote from: leea-1334 on May 01, 2018, 02:59:00 AM

I would not jump to any conclusions just for now. Remember that BTC was at below 7k just weeks ago, yes, it looked like a bottom, yes it showed the double bottom, but why not a triple bottom or even a quadruple bottom first? Charts are funny that they can show things we are looking for but Bitcoin does not have our memory to perform according to history. It will do whatever it wants and however soon or long it wants. Of course, it looks good to us at this stage, but I am not ready to call anything for price right now. Wait and see as always.

I agree. As much as encouraging this poll may look and feel like to many of us, there still isn't any clear sign that we couldn't go down again to test 6k another time even fall below it. Bitcoin is a wild beast as we all know, so be careful don't go all in now. Layer in on the way up when we have seen a clear trend reversal. Until then stay cool and be patient.

leea-1334

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I would not jump to any conclusions just for now. Remember that BTC was at below 7k just weeks ago, yes, it looked like a bottom, yes it showed the double bottom, but why not a triple bottom or even a quadruple bottom first? Charts are funny that they can show things we are looking for but Bitcoin does not have our memory to perform according to history. It will do whatever it wants and however soon or long it wants. Of course, it looks good to us at this stage, but I am not ready to call anything for price right now. Wait and see as always.

okala

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This is good news and I believe bitcoin has also bottom out. Bitcoin is going to actually be above the current price by the end of the year and putting our money into it now should be the wise things to do.

supermine

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Quote from: Aikidoka on April 30, 2018, 03:47:35 PM

Quote from: slyfox on April 26, 2018, 10:40:39 PM

Most of the time investors are going to be divided about where we are, whether this is a recovery or not and that we will see the price decreasing again, but when we have so many investors agreeing on the same thing then you can be very sure that they are most likely right and I think that many people in the forum will agree with them as well.

I do not see why we should see eye to eye with them. They are humans like us and we should not believe every single word they say. No one knows whether bitcoin will rise or fall. You can predict it based on your hunch not facts. Added to that, it all has been a matter of faith. Yes, I believe that bitcoin will rise (And then he tries to prove his point with some calculations). That is called manipulation, my friend.

People just want to bring positive vibes on bitcoin so they are telling the stats like these. Cheesy

And in the statement also sates that believe that so it is their own opinion but it doesn't means that it will happen,but I am also thing that bottom level of current run was reached so now it is time for some upward movement and it is happening in the past weeks.

Aikidoka

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Quote from: slyfox on April 26, 2018, 10:40:39 PM

Most of the time investors are going to be divided about where we are, whether this is a recovery or not and that we will see the price decreasing again, but when we have so many investors agreeing on the same thing then you can be very sure that they are most likely right and I think that many people in the forum will agree with them as well.

I do not see why we should see eye to eye with them. They are humans like us and we should not believe every single word they say. No one knows whether bitcoin will rise or fall. You can predict it based on your hunch not facts. Added to that, it all has been a matter of faith. Yes, I believe that bitcoin will rise (And then he tries to prove his point with some calculations). That is called manipulation, my friend.

buwaytress

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Doesn't really matter what 82% or 100% of them think, price will move in the direction it wants, what they think is generally influenced by what sentiment is already moving the market and they can change their minds quickly.

It's going to be difficult to ignore that buying pressure now, though. I can almost hear the screams to buy already emanating from every inch of crypto sphere. That BTC has been holding on to post 9k makes an even stronger case for bull buildup. Looks like May is all prepped to repeat last year's ascent.

GoldenLad

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Reached it bottom? Well, I guess it's another FUD. Just don't know why they keep doing this. Those whom are fear that might act on this are those whom probably have just started out investing cryptocurrency. They should just know that whoever the 'institutional cryptocurrency investors are ' they are not in the best position to say if bitcoin has reached it bottomed or not cause cryptos is most times unpredictable.

MintCondition

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Quote from: Harlot on April 29, 2018, 04:32:13 AM

Quote from: Powerpuff on April 26, 2018, 09:42:53 AM

Institutional investors that have already invested in cryptoassets and are long-term bullish on the industry believe that the Bitcoin price has already bottomed out and will end the year above where it is currently trading.

I guess that already explains why. People who have already bought Bitcoin will of course not say anything bad against their own investments, it is like talking trash to your own property. And with them being an institutional investors they know that they have some kind of influence even on the words they are blabbering in their mouths, and they are obviously using it in order to increase the price of Bitcoin. If 80% believes that the only way of Bitcoin is up then it is a big word for the small investors enough for them to be convince.

It might a PR to make the price grow but we can actually how BTC recovers from the dip it experienced, many might not still believe especially if they don't have any capital to risk at all so they will just calm themselves on not having it at all.

wuvdoll

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Quote from: magneto on April 27, 2018, 12:07:53 AM

There is a chance that bitcoin may go lower following the correction that may happen in the near future, as this rally comes to an end.

However, I'd probably say that even if BTC does go lower than the previous $6k bottom, it probably won't go down much further than that. The support at $6k is extremely strong, and whenever BTC had come near it it rebounded swiftly each time.

With the huge influx of institutional investors in BTC, we can probably see BTC's prices starting to appreciate drastically, as soon as this bear market is over. But it will take time, in my opinion. Nothing of this sort happens overnight.

Yeah, $6k support is highly strong, but there is no support that cannot be broken no matter how strong it is and breaking that support will obviously not be a sweet one to want to see. However, I am still very optimistic about the market at least for now, until further notice and I believe that with all things being equal, we may actually get to see better days ahead, but not without having the mindset that anything can happen which could lead to the scenario you have pointed out.

Quote from: ValerieBTC on April 30, 2018, 06:00:45 AM

Now people have different thoughts about bitcoin and that’s the main reason for the price volatility.

You cannot convince all 100% people to make them believe into bitcoins. Even if we make them believe, there will be no guarantee that they will not get panic at all kind of price levels. So, volatility cannot be removed for ever for sure.

ValerieBTC

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Quote from: gentlemand on April 28, 2018, 05:42:47 AM

Quote from: drm on April 28, 2018, 05:38:16 AM

Their opinion isn't more valid, they just bring in that big money Cool

Guess so but much of it will be OTC and on futures markets so it all that money won't be touching the actual BTC market. It profits from it, but doesn't drive it with much vigour.

Yeah the investment purpose is for making money and they don’t have any concern about the promotion of bitcoin. I think price is not the issue. The main issue is to promote bitcoin. If we do so more people will put their money in bitcoin and the fear of downfall in the rice will be eliminated. Now people have different thoughts about bitcoin and that’s the main reason for the price volatility.

Harlot

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Quote from: Powerpuff on April 26, 2018, 09:42:53 AM

Institutional investors that have already invested in cryptoassets and are long-term bullish on the industry believe that the Bitcoin price has already bottomed out and will end the year above where it is currently trading.

I guess that already explains why. People who have already bought Bitcoin will of course not say anything bad against their own investments, it is like talking trash to your own property. And with them being an institutional investors they know that they have some kind of influence even on the words they are blabbering in their mouths, and they are obviously using it in order to increase the price of Bitcoin. If 80% believes that the only way of Bitcoin is up then it is a big word for the small investors enough for them to be convince.

romani245

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Quote from: timerland on April 29, 2018, 04:03:55 AM

There was a double bottom at $6600, so the support at that level is real steady by the looks of it.

There is a chance that we go lower than the bottom that we already saw, but I don't think that it's a big chance. And if it does happen, it's not going to drop too far below the $6k bottom. I think it's safe to say that we're already in recovery mode.

I agree with the first part, disagree with the second. The support held really solid. But if we manage to get below $6000 at this point, it's bad news. There has been a shitload of volume exchanged, all above $6000. If we get below, that means a lot of new resistance that will smack down every bounce.

Quote from: timerland on April 29, 2018, 04:03:55 AM

However, you've just got to be prepared for everything. The bear market could return and take everyone by surprise again, and you don't want to be caught having a lot of BTC that you're not ready to hold for the long run. Just because the majority of institutional investors think that the bottom has already formed, doesn't mean that it's actually going to be the case.

Yup, I don't think this is a replay of 2014. But it could be! Lips sealed

timerland

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There was a double bottom at $6600, so the support at that level is real steady by the looks of it.

There is a chance that we go lower than the bottom that we already saw, but I don't think that it's a big chance. And if it does happen, it's not going to drop too far below the $6k bottom. I think it's safe to say that we're already in recovery mode.

However, you've just got to be prepared for everything. The bear market could return and take everyone by surprise again, and you don't want to be caught having a lot of BTC that you're not ready to hold for the long run. Just because the majority of institutional investors think that the bottom has already formed, doesn't mean that it's actually going to be the case.

exstasie

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Quote from: gentlemand on April 28, 2018, 02:21:05 PM

Quote from: exstasie on April 28, 2018, 01:15:55 PM

I also think futures markets have a perceptual effect on the market. People react to them.

Yes. Which I have to say I'm pretty disgusted by. There has always been an underlying desire in many to defer to what they see as a higher authority, even though said higher authority did fuck all to build the market they're exploiting and can and should be roundly ignored.

There's some logic to it. Markets are all about sentiment, emotion, reaction. Panic in the futures markets naturally spreads. When China was more relevant, I remember a lot of us would wait around for weekly Okcoin settlement because it was often a catalyst for a short term breakout.

Sometimes, everyone's just waiting to react to something.

Quote from: gentlemand on April 28, 2018, 02:21:05 PM

As for OTC, I suppose we'll never know. I would've thought the amounts were so vast that they'd steer clear of exchanges because they're not practical but what do I know?

Sure but if OTC demand dries up enough, industrial miners and such have no choice but to dump coins wherever they can to cover overheads (or to liquidate their mines). I think there was a lot of that in 2014-2015.

thecodebear

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Well this isn't surprising since it is very clear that 6000s was the bottom. But good to know they understand that too, means they'll start buying it up thus raising the price.

Pearls Before Swine

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Quote from: Wind_FURY on April 27, 2018, 01:42:21 AM

The institutional investors do not only believe that it has "bottomed out", but "they" have already put their money where their mouth is. Cool

That is good news indeed, and it probably explains why bitcoin has spiked up past $9000 in the past two weeks or so. I do question whether these institutional investors actually believe in crypto or whether they're just riding the bandwagon. My best guess is that it's probably the latter, and if that's the case then we'd all better beware when they all of a sudden start dumping their crypto holdings all at once. If and when that happens, we're probably going to see an enormous drop in prices across the entire array of altcoins and bitcoin.

Think back to all the bubbles the world has seen in the last 100 years. Big name institutions have gotten involved in most if not all of them. So while somebody like Goldman Sachs getting involved in bitcoin might be good news in the short term, it could be that in the long run it's bad news. It's hard to tell at this point, but we'll see.

vintages

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I literary don't care about what other people or those who call themselves cryptocurrency experts think about bitcoin. I know personally that Bitcoin is not doomed so what others are thinking or persuming about it doesn't matter. Since I started caring less about the recent news on the internet which are most times the government indirect methods of promoting FUDs, I have been way better.

Bagaji

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It is true that we have already reach the double bottom and we currently experiencing a recovery process of Bitcoin and other altcoins. Although, it is not only institutional investors alone but individual investors also believe the same way as you rightly mentioned above.

Topic: 82% of Institutional Crypto Investors Believe Bitcoin Price Has Bottomed (Read 493 times)