Majority of Crypto Fund Managers Surveyed Predict Bitcoin Could Reach $100K by Year-End – Markets and Prices Bitcoin News

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Main monetary companies agency PWC has carried out a research and located that almost all of crypto fund managers surveyed consider that the worth of bitcoin can be between $75K and $100K by the tip of this yr.

Bitcoin’s Worth Estimate by Crypto Fund Managers

PWC, a Large 4 accounting agency, revealed its “4th Annual International Crypto Hedge Fund Report” final week. It was produced along with the Different Funding Administration Affiliation (AIMA) and Elwood Asset Administration (now a part of Coinshares).

The info within the report comes from a survey carried out in April throughout a pattern of 77 specialist crypto hedge fund managers, PWC defined, including that their complete property beneath administration (AUM) had been $4.1 billion in 2021.

The report consists of bitcoin value predictions. “We gave crypto fund managers the chance to contribute their estimates on the place the worth of BTC and the general cryptocurrency market capitalization can be on 31 December 2022,” the Large 4 accounting agency detailed.

The outcomes confirmed that “whereas the general crypto market was fairly bearish, managers remained extraordinarily bullish on BTC,” the report describes. Noting that “the median prediction of BTC value being $75,000,” PWC detailed:

The vast majority of predictions had been throughout the $75,000 to $100,000 vary (42%), with one other 35% predicting the BTC value to be between $50,000 and $75,000 by the tip of 2022.

John Garvey, PWC United States’ international monetary companies chief, commented:

The current collapse of Terra vividly demonstrated the potential dangers in digital property. There’ll proceed to be volatility, however the market is maturing.

“With that’s coming not solely many extra crypto-focused hedge funds and better AUM but additionally extra conventional funds coming into the crypto area,” he concluded.

PWC additionally defined that 38% of conventional hedge funds surveyed are at the moment investing in digital property, in comparison with 21% a yr in the past. The agency added:

The variety of specialist crypto hedge funds is estimated to now high 300 globally.

Moreover, 46% of crypto hedge funds surveyed revealed that they’re concerned in cryptocurrency staking, 44% are engaged in lending, and 49% are concerned in borrowing.

What do you consider the crypto fund managers’ bitcoin value prediction? Tell us within the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

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