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Survey: 54% of institutional investors believe that declining trend in BTC price is over now

According to a recent survey by Fundstrat, the majority of large institutional asset holders believe that bitcoin price reversal is to come in the nearest future.

Based on the results of a private survey of 25 institutions, as well as 9 500 responses to a public Twitter poll conducted on September 30, the head of Fundstrat Tom Lee concluded that Wall Street is much more bullish about bitcoin, as compared to the general attitudes on the matter demonstrated by the crypto community in the social media.

54% of the institutions polled are optimistic about bitcoin, saying that its market price has already hit its lowest and is unlikely to drop below $5 800 this year. Analysts from Fundstrat support this view as well.

Institutional players are in a bullish mood too. They look forward to potential bitcoin price growth in future. 57% of respondents said that bitcoin price is likely to reach $15 000 by the end of this year.

The crypto community in Twitter holds the opposite opinion about bitcoin, however. 66% of those polled in Twitter do not rule out the possibility of bitcoin price falling to a fresh low before the end of this year. Only 40% of respondents have agreed that bitcoin price will $ 15 000 threshold late in 2019.

Back in February, Tom Lee was predicting that bitcoin price would reach $20 000 once again by June 2018 and rise to $25 000 by the end of the year.