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BTIG Keeps $50,000 Target on Bitcoin, Says Institutions are Buying During Rout
Summary: BTIG’s Julian Emanuel is keeping his $50,000 year-end target on bitcoin and says institutions were buyers of the cryptocurrency after its 30% price collapse, as reported by CNBC. Emanuel said when bitcoin hit bottom, there was interest in bitcoin from institutions that had a lower average entry point. “The fact we’re bouncing off $30,000 as ...
BTIG’s Julian Emanuel is keeping his $50,000 year-end target on bitcoin and says institutions were buyers of the cryptocurrency after its 30% price collapse, as reported by CNBC.
Emanuel said when bitcoin hit bottom, there was interest in bitcoin from institutions that had a lower average entry point.
“The fact we’re bouncing off $30,000 as hard as we’re bouncing speaks to the fact that the institutional investors we are talking to continue to see this as a viable alternative in a diversified portfolio,” said Emanuel, BTIG head of equities and derivatives strategy.
By Amy Liu
Tags: Bitcoin,BTIG,Julian Emanuel
Link: BTIG Keeps $50,000 Target on Bitcoin, Says Institutions are Buying During Rout [Copy]
