Bitcoin continues to trade between the levels of $31,100 and $40,700, tending to overcome its lower border. And the fundamental background for "digital gold" remains so negative that it becomes difficult to expect anything other than a new fall. In recent weeks, the view that $30,000 per coin is the lower limit for the value of bitcoin at this time has been actively circulating in the crypto community and on the internet. They say that institutional investors, as soon as they see such a price, will immediately rush to buy coins, since this price will be two times lower than the April one, which is very attractive. But only MicroStrategy rushed to buy bitcoins. Moreover, there is an opinion that it is institutional investors who can save bitcoin from a new fall of 80-90% in value, which is a characteristic of all the upward trends of bitcoin. However, we have the following facts: institutions are in no hurry to invest in bitcoin, miners are being kicked out of China, the States are going to tighten regulation of cryptocurrencies, the entire cryptocurrency market is falling, and shares of companies related to cryptocurrency activities are falling along with it. Thus, at this time, we can conclude that institutions are getting rid of bitcoin coins. By the way, Tesla shares have been growing in price in recent weeks. Does this mean that the company has already quietly sold all of its coins? According to a survey conducted by the investment bank JPMorgan, only 10% of surveyed institutions are engaged in cryptocurrency trading, and 30% prefer to stay away from the cryptocurrency market. The poll took place on June 22 at a conference attended by about 3,000 investors and representatives of 1,500 financial institutions. 80% of those who have not invested in cryptocurrencies before reported that they do not intend to do so in the future. Also, about 80% of investors surveyed believe that the authorities and central banks will further tighten control over cryptocurrencies. Earlier, the Bank of America conducted a similar survey, the results of which showed that 81% of managers consider Bitcoin a "bubble". From our point of view, this means that, in some way, the cryptocurrency market peaked in April this year. It is far from a fact that even during the next wave of Bitcoin purchases, which may occur in a year or two, or even later, the number of investors will increase. And if the number of investors does not grow, it will be extremely difficult for bitcoin to show growth to $100,000 per coin. In any case, in the next year or two, we expect a long consolidation of the instrument, during which we expect the quotes to decline even to $10,000 per coin.