IT and cybersecurity expert John McAfee believes that the cryptocurrency market will soon turn bullish with the influx of institutional investors.

Recent surveys and announcements from banking giants also suggest that the cryptocurrency market will be getting a shot in the arm from institutional investors soon.

According to McAfee, institutional investors would be “pumping billions into the [cryptocurrency] market,” driving the prices of “top ten coins to go through the roof…” Other altcoins will follow suit, he said.

When asked the basis for his tweet, McAfee responded saying “read the news on institutional investors” and that he does not have any other information.

With reports of institutional investors entering crypto space doing the rounds, cryptocurrency industry incumbents are also making efforts to cater to institutional needs. Coinbase recently announced a suite of institutional grade products. This week, LMAX Exchange Group launched the first physical cryptocurrency exchange dedicated to serving only institutional clients.

While crypto industry seems upbeat with these reports, Vanguard chief economist Joseph Davis recently said that he sees a “decent probability” that bitcoin price could fall to zero.

Bitcoin price surged to an all-time high at $19,666 in December 2017 before falling to below $6,000 levels in February this year. It is currently trading at $7,916 levels at the time of writing (Bitstamp). According to coinmarketcap.com, top ten cryptocurrencies currently include Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON, and IOTA.