Cumberland: Institutional Investors Expect Bitcoin to Rise to $32,000 in 2022

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American market maker Cumberland conducted a survey of institutional investors and found that most respondents expect a significant increase in the Bitcoin rate this year.

Interestingly, respondents expect furtherthe cryptocurrency market will fall in the near future. In their opinion, the rate of the first cryptocurrency could drop to $16 000. However, then Bitcoin should show a sharp recovery and by the end of the year the rate could reach $32,000. As Cumberland analysts noted, the overall sentiment among institutional investors remains “strongly bullish.”

“Even with the current bearish trend, suchthe results are not surprising. After all, those surveyed trade cryptocurrencies, which means they believe in Bitcoin. If there was no such attitude towards BTC, they would continue to trade on Forex,” say Cumberland analysts.

Respondents do not expect any success instock market, despite the significant correlation between the stock and cryptocurrency markets in recent months. According to institutional investors, the crypto market, at least in the near future, will significantly depend on the decisions of the US Federal Reserve on base rates and “other movements of the Federal Reserve.”

Previously, Cumberland analysts said that the recovery of the cryptocurrency market will be determined by the speed at which assets move from insolvent companies to solvent ones.