Voyager Digital’s Q2 2021 Retail Investor Sentiment Survey indicates that despite the recent sell-off in Bitcoin and the wider crypto markets, investors are even more bullish than before, with a greater proportion of users looking to increase their crypto holdings than the previous survey.
The results are based on a sample set of more than 1.6 million verified users that make up Voyager’s fast-growing crypto platform and suggest they still believe the crypto bull market is set to pick up steam. There remains a significant number of investors who believe that Bitcoin’s price will exceed $71,000 by the end of Q3 2021, whilst the largest group sees Bitcoin ending up between $56,000-$70,000.
Key survey findings:
- 81% say that they are more confident in the future of cryptocurrency following the recent sell-off.
- 87% of investors plan to increase their Bitcoin or crypto holdings over the next quarter, higher than in the previous survey (80%).
- Bullish sentiment for the price of Bitcoin over the next 3 months stands at an average of 7 out of 10 (1 being the most bearish and 10 being the most bullish).
- 39% predict the price of Bitcoin to be between $56,000-$70,000 with 28% expecting the price to be between $41,000-$55,000, by the end of Q3 2021.
- There is still a significant proportion of respondents, 18%, that believe Bitcoin will reach above $71,000, down slightly from the previous survey (20%).
- More than 9 out of 10 respondents believe the SEC will approve a Bitcoin ETF.
- Of the Altcoins, investors are most bullish on Cardano above any others:
Steve Ehrlich, CEO of Voyager had the following comments to make from the findings:
“It’s encouraging that investors remain bullish following the recent market correction as we continue to see some interesting trends in our user sentiment surveys. The fact that the vast majority of our large sample size of investors are more confident in the future of cryptocurrency, shows how people see May’s volatility in many crypto-assets as a buying opportunity. Our findings show that 87% of investors are looking to increase their crypto holdings in the next quarter, a much higher percentage compared to the last survey we conducted in April.”
The survey, which reports the sentiments of 3,671 respondents taken at the end of May. demonstrates what a wide and diverse ecosystem the cryptocurrency space has become, with many digital assets available for investors to choose from, scrutinise and research. Respondents were chosen based on a “highly active trader status” on the Voyager platform, executing anywhere from 50-100 trades over a 30-day period. Results were collected via an anonymous online survey and assessed using standard data analysis tools.