While Bitcoin (BTC) has experienced a series of sharp declines in recent months, a new Coinbase survey reveals that 71% of institutional investors believe Bitcoin is undervalued.
According to a survey conducted by Coinbase, the vast majority of institutional investors view Bitcoin’s current price as undervalued.
The survey was reportedly conducted between early December and early January, with the participation of 75 institutional and 73 individual investors.
According to the survey results, 80% of institutional participants stated that if the crypto market falls by another 10%, they would either hold onto their assets or buy more Bitcoin.
54% of participants described the current market structure as either an accumulation phase or a bear market.
Approximately 25% of institutional investors considered the $85,000-$95,000 range in which Bitcoin traded during the survey to be “fair value,” while only 4% said Bitcoin was overvalued.
Finally, in the report, participants suggested that if the Fed cuts its benchmark interest rate twice this year, the resulting monetary easing could create a favorable environment for risky assets.
*This is not investment advice.
