When it comes to bitcoin (BTC) there seems to be a great divide between those who work for traditional Wall Street firms and those who spend a lot of time using Twitter.
Fundstrat managing partner and head of research Tom Lee polled 25 institutions during a recent dinner (of which no details were given including where this dinner took place and which people were polled) and compared their responses to the answers to a Twitter poll that got 9,500 responses. CNBC reported the majority of institutions said bitcoin’s price has “already bottomed” while most respondents to the Twitter poll said it has more room to fall.
Just 44 percent of Twitter respondents said bitcoin has already hit its low while 54 percent of institutions polled said the worst is over for bitcoin prices. Bitcoin is currently trading around $6,572.
Institutions were also more bullish on how high they think bitcoin’s price can climb. From institutions, 57 percent said bitcoin would rise anywhere from $15,000 to “the moon” by the end of 2019. Twitter users were less optimistic, with 40 percent predicting that price movement.
Maybe the Twitter users should’ve been invited to that dinner. Read more here.