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Kraken’s Year End Sentiment Survey: Learn Why VIPs are Bullish on 2021

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Source- https://blog.kraken.com/post/6961/krakens-year-end-sentiment-survey-learn-why-vips-are-bullish-on-2021/

A $250,000 Bitcoin in 2021?

Excitement is in the air, prices recently hit all-time highs and our latest Kraken VIP sentiment survey reflects the many ways professionals are thinking about how the cryptocurrency sector might evolve in the year ahead.

In the new survey, Kraken VIPs – a diverse mix of brokers, custodians, family offices, hedge funds, market makers, miners, and traders – share their insight into the state of the market heading into 2021 for any investor seeking an edge.

Indeed, while prominent funds and investors like Michael Saylor and Paul Tudor Jones have made bullish bets on bitcoin in recent months, that’s not all that is exciting our VIPs.

By downloading Kraken Intelligence’s latest report, you’ll gain insights into their preferred price targets, investment convictions, and the general sentiment on the state of the market.

We explore:

  • Diversifying  – Polkadot, Chainlink, and Monero led the charge after Ethereum as the most popular alternative cryptocurrencies. Our VIP’s commonly cited community strength as an important factor when deciding to buy and hold these altcoins.
  • Optimism Ahead – Institutional adoption is driving bullish sentiment. Nearly 70% of our respondents believe we are now in a bull market and believe that innovation, improvements, and positive regulation will boost their investments in 2021.
  • Price Targets – Our VIPs offered bullish forecasts for bitcoin and ethereum in 2021, with high-end estimates for their price appreciations topping $250,000 and $15,010, respectively. Respondents are optimistic that next year both cryptocurrencies will provide at least 175% returns from October prices.
  • The DeFi Space – The popularity of Ethereum, Polkadot, and Chainlink reflected the rise of DeFi. Our respondents are investing in the belief that decentralized finance and reimagined financial products may disrupt the traditional industry. DeFi is also being credited for the increased adoption of stablecoins.

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