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Investors bullish despite Bitcoins Volatility: Survey

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A recent survey shows investors are having bullish feels about Bitcoin despite last month’s selloff  

The cryptocurrency community is well-acquainted with the fact that the king coin – that is Bitcoin (BTC) sure did get quite a beating over the past month. Nowadays, however, it may well seem that investors are sensing some positive stuff ahead for the digital currency if a recent survey is anything to go by. 

What they think about Bitcoin these days  

The crypto trading app of Voyager Digital recently rolled out a survey about it and as above-mentioned, the majority of respondents (87 percent of them) indicated that they intend to stack up their holdings in the coming three months. 39 percent of them are self-assured that Bitcoin’s price could be hovering between $56,000 and $70,000, while 28 percent believe that it will be around the $41,000 to $55,000 zone.  

Meanwhile, 18 percent of these respondents are confident that BTC’s price will have surpassed the $71,000 mark during that time.  

Voyager CEO’s two cents  

In line with this, Voyager Digital’s Co-Founder and CEO Stephen Ehrlich commented on such turnout saying that it is “encouraging that investors remain bullish following the recent market correction” adding that they continue noticing some “interesting trends” with the surveys they put up. 

He also highlighted that a lot of these investors are now more confident about cryptocurrency’s future as this is a clear sign that these folks are now perceiving last month’s crypto volatility as some sort of green light to purchase more of these digital assets.  

BTC figures  

At the time of writing, Bitcoin’s price sits at 38,000 as financial pundits out there are somewhat in unison with Voyager’s survey respondents that the digital currency’s price could be surging up to $50,000. On Monday, BTC soared to as high as $41,020 which is a 4.5 percent gain as this impressive rally carried on the next day.  

Now that Bitcoin has been spotted in the 40,000s, experts are now saying that the next price range that needs to be reached by the cryptocurrency is $42,500. According to them, the said figure represents its 200-day moving average adding that BTC could rally to $50,000 provided that such requisite is achieved. 

The Sevens Report Research founder Tom Essaye said that Bitcoin needs to have more “widespread legitimate adoption” for it to resume the rally.  

If one has to check Bitcoin’s most recent activity, it hit a high of $41,330 on the 15th as this was achieved within the 0.382 Fib retracement resistance level at $41,250, Be In Crypto noted. Since then, BTC has been on a downward course ever since. 

It then formed a bearish candlestick the following day and eventually went on a $38,116 dip.  

It was pointed out, however, that albeit the recent price drop, technical indicators show a bullish outlook. Further, if such a trend continues, it is predicted that the next resistance level would probably be located around the 0.5 Fib retracement level at $44,755.

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