Coinbase "67% of institutional investors expect Bitcoin to rise in the next 6 months"

More than two out of three institutional investors surveyed expect Bitcoin (BTC) prices to rise over the next six months.

On the 20th (local time), Cointelegraph reported that Coinbase said, "67% of institutional investors predict Bitcoin price increases over the next 3~6 months." Additionally, 45% of respondents evaluated the current market as being in the 'late stage of a bull market,' while the same response among non-institutional investors was 27%.

David Duong, head of Coinbase Research, said, "The buying pressure from digital asset treasury (DAT) companies this year has had a significant impact on the market," and "their buy-the-dip strategy is supporting the market bottom." In fact, BitMine, led by Tom Lee, recently purchased an additional 379,000 Ethereum (about $1.5 billion). Strategy also indicated additional Bitcoin purchases.

Coinbase said, "The cryptocurrency bull market is still intact," and that "liquidity recovery, the macroeconomic environment, and regulatory easing are all acting positively on the market." However, regarding the short-term increase in volatility after the sharp drop on October 10, it added, "a cautious approach is required." It went on to say, "The U.S. Federal Reserve (Fed)'s potential for further rate cuts and China's fiscal and monetary easing could encourage investor inflows," and forecasted that "additional liquidity trends will form in the fourth quarter."