Opinions of Institutional Traders on Bitcoin's Future Fate Has Divided
November 20, 2017
Most of the survey respondents, conducted by the New York company Triad Securities, called Bitcoin a bubble, which will soon burst. The survey involved 317 institutional traders, half of whom work in purchasing firms, 10% in selling firms, and 8% in the sphere of financial services. More than half of the respondents were over 45 years old, and only a fifth of them were younger than 35.
The survey results are as follows: 39% of the respondents consider Bitcoin a bubble which is bound to burst; 27% of the respondents believe that Bitcoin will continue to grow, but not so quickly; 16% believe that the growth rate will remain high, and the cost of the cryptocurrency will double in the next six months; 17% of the respondents did not express their opinion on this issue.
When asked about being involved in trading the cryptocurrency, the following answers were received: 31% of the respondents said they had bought Bitcoin; 36% have not yet bought it but are thinking about buying; 30% said they would never buy Bitcoin; 1.5% stated they were not familiar with the cryptocurrency.
As for the initial coin offering (ICO) procedure, only 8% of the respondents said they had bought tokens, and 29% reported they were considering such an option. 15% of the respondents will not participate in the ICO until this sphere is regulated at the state level. As the main reasons that influence the decision to invest in tokens, the respondents named the founders and key persons of the organization, the total share of the target market, as well as the general type of the token.