Wall Street investors largely believe bitcoin will trend lower to end a wild year flat, according to a new CNBC survey. Every quarter, we poll about 100 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money about their views on the markets for the rest of the year. The survey was conducted from June 23-30. Of the survey respondents, 44% said the world's largest cryptocurrency will finish 2021 below $30,000. That's essentially where it started the year. Bitcoin rallied at one point triple digits to an all-time high of nearly $65,000 in April from about $29,000 at the end of 2020, according to Coin Metrics. However, after an impressive start to the year, bitcoin got hit by heightened regulatory scrutiny and gave back most of its gains in 2021. Bitcoin last traded at $33,400, still up more than 10% on the year. The decline came as China stepped up efforts to stamp out crypto speculation , ordering digital currency miners to cease operations in a number of regions and urging banks and payment firms not to offer crypto-related services. Meanwhile, cryptocurrency exchange Binance has been banned from operating in the U.K. by the country's markets regulator. Still, the cryptocurrency gained mainstream support from major banks and brokers. Many notable investors, including Paul Tudor Jones, also endorsed bitcoin as a preferred hedge against inflation. When asked their favorite inflation trade, 18% of survey respondents picked bitcoin, which is double the number of investors who selected longtime inflation trade gold. The nonyielding bullion has lost part of its appeal as bond yields rise amid the economic reopening and inflation pressures.