UK Financial Profesionals Bet On Rising Cryptocurrencies
The financial services professionals and retail investors from Britain are optimistic about the near future of cryptocurrencies and are looking to increase their exposure. Nearly 54% of them expect their prices to rise over a 12-month period. According to a new survey, only 32% of them anticipate a decrease.
According to the study, about 56% of interviewed intend to acquire more digital money. Another 31% plan to retain or sell some of their crypto holdings, and only 8 percent will get rid of all their coins. There were 146, who have participated in the online survey. And 104 of them still held cryptocurrencies, when they were questioned on February.
The authors of the “Investor Perception: Cryptocurrencies” report say that 32% of the experts anticipate a dramatic increase in the prices of cryptos by 2021. Another 18% predict a slight rise. At the same time, those who believe valuations will fall are just 28 percent.
Phil Anderson, the Executive Director at Citigate Dewe Rogerson said:
“Many cryptocurrencies have seen a huge increase in valuations, but also exceptional levels of volatility. Cryptocurrency millionaires have been created, but many other investors have lost money. Despite the significant levels of volatility and price fluctuations, our research reveals many financial professionals remain optimistic about the future for cryptocurrencies”.
He also mentioned, that the market capitalization for cryptocurrencies was around $800 billion at the beginning of 2018. He noted, that only half of the financial professionals expect it to be over $1 trillion by 2021, while 15 percent anticipate it to be more than $2 trillion.