Bitcoin Price: Financial Advisors Targeting $17,571 in Dec 2023

bitcoin price

The majority of economic advisors consider that Bitcoin will improve in worth over the subsequent half-decade. 


This discovering comes from a Bitwise Asset Management’s and ETF Trend’s inaugural “Bitwise/ETF Trends Survey of Financial Advisor Attitudes Towards Cryptoassets,” which surveyed greater than 150 monetary advisors — together with unbiased broker-dealer reps, monetary planners, and wirehouse reps — final month.

As reported in a press launch, cryptocurrencies and cryptoassets are very firmly (and unsurprisingly) on the funding radar. Nearly 80 p.c of all respondents declare to have acquired inquiries about cryptocurrencies from purchasers, whereas 22 p.c plan to both enter the cryptocurrency-investment area for the primary time or improve their present allocations.

On the decrease finish of the dimensions, lower than 10 p.c of the advisors polled at the moment handle a crypto allocation. However, 55 p.c of the advisors surveyed consider Bitcoin (BTC) will improve in worth over the subsequent half-decade — with the typical worth goal being $17,571 on Dec 2023.

bitcoin price recovery

The principal takeaway from the report is that curiosity in cryptocurrency investing from monetary advisors has thrived, regardless of a brutal bear market which has undoubtedly shaken out many retail buyers. Bitwise Asset Management’s Global Head of Research, Matt Hougan, acknowledged:

After a 12 months through which the Bitwise 10 Large Cap Crypto Index fell 78%, the survey exhibits that curiosity in crypto investing from monetary advisors not solely survived, however grew. There are clear explanation why: Advisors inform us that they’re getting inbound questions from purchasers, that they want methods to attach with a youthful technology of purchasers, and that purchasers are investing in crypto outdoors of their advisory relationship anyway.

Tom Lydon, ETF Trends’ Founder and Editor, likewise defined:

Financial advisors, and notably ETF-focused monetary advisors, are all the time on the cutting-edge of latest developments. The survey outcomes recommend that more and more means having good solutions and insights in relation to crypto.

bitcoin investment

What do you concentrate on the outcomes from Bitwise Asset Management’s and ETF Trend’s inaugural “Bitwise/ETF Trends Survey of Financial Advisor Attitudes Towards Cryptoassets?” What do you assume the value of Bitcoin might be in 2023? Let us know your ideas within the feedback under! 


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