Nickel commissioned research with 200 professional investors from across seven countries who collectively manage around $2.2 trillion in assets and found more than two out of three (67%) believe the current crypto winter is either over or has less than six months to run.
Its study found 9% believe the bear market in cryptocurrencies and digital assets is over while 58% say it will end within six months at the latest.
They have been buoyed by the recent performance of Bitcoin which has rallied from previous lows and more than a fifth (21%) questioned believe valuations will start to rise over the next six months with another 6% saying there will be no further declines in valuations.
However, the research shows professional investors are still expecting some volatility over the next six months while the crypto winter starts to ease as the table below shows.
Not all professional investors surveyed are optimistic about the crypto and digital asset market in 2023, the research found. Around 27% questioned expect the bear market to last up to a year from now while 7% expect it to last more than a year.
Fiona King, MD at Nickel Digital, said: “The recent relative stability hoovering around lows first hit three months ago provided some respite for the market and that is reflected in the return of some confidence among professional investors. Invesco has recently been quoted predicting a Crypto Spring which would spur professional investors back into digital assets.”
Anatoly Crachilov, CEO at Nickel Digital, added: “It is a well-grounded long-term optimism. Investors acknowledge that the ongoing crypto winter still has some way to run but there is also a recognition that, if history is any guide, once the winter ends these high-beta markets will stage strong recovery.”
Nickel Digital Asset Management is a London-based FCA authorised and regulated investment manager that offers a range of digital asset strategy solutions for institutional investors. Its mission is to provide a gateway for traditional investors into the digital assets market across a broad range of risk profiles.
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Currently: Long Looking to: Sell @ 2,670
As of 3/21/21 @ 7:58pm EST: 2,278.80
LAST WEEK: We suggested buying between 2,275 and 2,300 with an upside target of 2,670.
UPDATE: Small caps had a tough day Thursday along with the rest of the equity space.
However, we believe they may have set a short-term bottom that day and that they could be on their way to new highs near 2,670.
Buy between 2,250 and 2,300 and hold for a move up to 2,670.
Currently: Long Looking to: Sell @ 2,670
As of 3/21/21 @ 7:58pm EST: 2,278.80
LAST WEEK: We suggested buying between 2,275 and 2,300 with an upside target of 2,670.
UPDATE: Small caps had a tough day Thursday along with the rest of the equity space.
However, we believe they may have set a short-term bottom that day and that they could be on their way to new highs near 2,670.
Buy between 2,250 and 2,300 and hold for a move up to 2,670.
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