NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Why Investment Advisors Expect Bitcoin To Reach $17,570 By 2023

Nick Chong
Nick Chong
6 years ago
4 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Investment advisors, which often sweat under the spotlight of their clientele, have long been hesitant to name-drop Bitcoin (BTC) and cryptocurrencies, much less give their predictions on the asset class. Yet, in a recent survey conducted by two fintech companies, an unnamed group of advisors commented on BTC, while also conveying a not so cheeky price forecast.

Bitcoin Sentiment Seemingly Turns Green

Per a survey conducted by Bitcoin ETF hopeful Bitwise Asset Management, a San Francisco-headquartered crypto services provider, and ETF Trends, a financial media source, advisors expect for the value of the flagship cryptocurrency to boom in the coming years. The December poll’s results, unveiled in a company press release, was aimed at 150 financial advisors, which subsets of financial planners, advisors, and broker-dealers. The respondents were queried about crypto assets and their role in their client’s portfolios en-masse.

While it was established that cryptocurrencies had become a near-ubiquitous talking point between advisors and their clients, a mere 9% of those polled are actively managing a crypto position in their clients’ portfolios. Yet, in spite of the seeming lack of demand and/or belief in BTC, a number of those surveyed were bullish on the cryptocurrency. 22% of the 150 noted that they plan to either commence investing their clients’ capital into cryptocurrencies or to bolster their already-existing holdings.

This willingness to foray is likely due to these advisors’ belief that the value of Bitcoin will swell in the years to come. In fact, 55% of those surveyed that believed that BTC would appreciate in value in the next five years, with predictions averaging out to $17,570. Although this is still below Bitcoin’s all-time high, the fact that bonafide investment advisors, and a hefty number at that, believe that the cryptocurrency market will grow is reassuring.

Matt Hougan, Bitwise’s global head of research, commented on the stats in a positive light, writing:

“After a year in which the Bitwise 10 Large Cap Crypto Index fell 78%, the survey shows that interest in crypto investing from financial advisors not only survived, but grew… There are clear reasons why: Advisors tell us that they are getting inbound questions from clients, that they need ways to connect with a younger generation of clients, and that clients are investing in crypto outside of their advisory relationship anyway.”

As previously reported by NewsBTC, the same group of advisors also show amiability towards BTC-backed exchange-traded funds. The mass of respondents, a hefty 58%, divulged that they would prefer to invest in cryptocurrency via an ETF, with 35% noting that the launch of such a vehicle would catalyze their foray into this nascent market.

It is clear that investors haven’t counted cryptocurrencies out just yet, even with the crushing downturn that stabbed a hole in traders’ hearts.

Related Reading: Bitcoin Rally To Be Preceded By More “Crypto Is Dead,” Layoffs, Regulation, Says Investor

Crypto Traders Also Optimistic

And advisors aren’t alone in the touting of their optimistic calls. While BTC has stumbled over recent days, posting a harrowing performance, analysts, who have begun to step back from day-to-day price action, have begun to claim that the bottom is nearing, if it isn’t already in.

As hinted at in a previous report, the current bear market is nearing the length of 2013-2015’s, leading many hopeful analysts to claim that a bottom is likely nearing. Jonny Moe recently noted that by Thursday, the current bear market will be just as long as the previous 80+% drawdown, and 2% shy of just as severe. While this wasn’t an explicit call that this nascent, often unpredictable market is establishing a price floor, many commenters quickly noted that this “fun fact” was the epitome of so-called “hopium.”

Fun fact: Thursday marks the same length of time as the 2013-2015 bear market.

We're 2% off from the same depth. $BTC pic.twitter.com/xCD7gHcwyN

— Jonny Moe (@JonnyMoeTrades) January 30, 2019

Analysts have also expressed their bullishness in a tacit matter. Jack, an analyst at Bitcoin Bravado, recently noted that BTC’s current inverted chart is technically reminiscent of the cryptocurrency’s chart at its $20,000 peak, established in late-December of 2017.

$BTC reversal pattern?

This $3k bottom looks awfully symmetrical to the $20k top…

Just saying pic.twitter.com/sLfKQcsTZI

— //Bitcoin 𝕵ack 🐐 (@BTC_JackSparrow) January 29, 2019

Others have been more explicit with their predictions. Moon Overlord, an esteemed crypto trader, recently remarked that per historical & technical analysis, BTC begins to “pump” one year “on average before its halving date.” With the next block reward shift slated to activate on May 2020, Overlord made it clear that the cryptocurrency market could begin to rally in May, adding that there are only a “few months to buy BTC at this low of [a] price.”

From a fundamental view, the broader crypto market has begun to look cheery. Case in point, Bitcoin failed to react to the news that VanEck, CBOE, and SolidX had retracted their application from the SEC for a crypto-backed ETF.

Rhythm Trader, a self-proclaimed “cryptocurrency enthusiast,” touched on this subject matter. Rhythm, who has embarked on a mission to laud Bitcoin incessantly, explaining that the “lack of reaction to the largest negative news on the horizon” is a clear sign that cryptocurrencies have entered a state of “despair.” In the eyes of many, this pseudo-phase accentuates that “capitulation” has finally occurred, and that lower lows are unlikely, if not a near-impossibility.

Featured Image from Shutterstock
Tweet123Share243ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

elon musk DOGE

Elon Musk plant onthulling ‘America Party’ – significante invloed op crypto markt verwacht

Er is weer volop reuring rond de naam Elon Musk. Hoewel er na de ruzie tussen Musk en Trump enkele...

Lars Diederiksen 2 hours ago
XLM

XLM Traders, Beware! Stellar’s Funding Rate Is Plummeting

Stellar Lumens hit a critical support level this week at $0.20, putting the token in a precarious spot. At that...

Christian Encila 4 hours ago

Анализ ликвидности BTC: $107 000 и $110 500 станут целями

Цены на Bitcoin (BTC) продолжают колебаться около $108 000 после незначительного прироста в 0,33% за последние 24 часа. Флагманская криптовалюта...

lisachaikina 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Godspower Owie 1 hour ago

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

Aaron Walker 1 hour ago
비트코인, 도지코인 및 밈코인 일제히 상승세... 토큰6900도 따를까?

비트코인, 도지코인 및 밈코인 일제히 상승세… 토큰6900도 따를까?

Soyeon Lee 2 hours ago

Premium Sponsors

Press Releases

  • 新しい仮想通貨|今買うべき注目の3つの新プロジェクトと高い成長可能性

    ...

    49 minutes ago
  • 本日の暗号資産市場が上昇中、その背景とは?次のラリーに備える仮想通貨おすすめ3選

    ...

    1 hour ago
  • 2025年にCardano、XRP、Pepeが急騰か?注目の仮想通貨プレセールと次なるミームコインの動向

    ...

    2 hours ago
  • アルトコイン注目銘柄:2025年7月第1週にチェックすべき4銘柄

    ...

    2 hours ago
  • 仮想通貨おすすめ|億万長者を生む可能性が高いのはどちらか?XRP対シバイヌ比較

    ...

    2 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.