Leading financial services firm PWC conducted a survey and found that the majority of crypto fund managers surveyed believe the price of bitcoin will be between $75K and $100K by the end of this year We found that.
Crypto Fund Managers’ Bitcoin Price Predictions
Big 4 accounting firm PWC released its Fourth Annual Global Crypto Hedge Fund Report last week. It was prepared with the Alternative Investment Management Association (AIMA) and Elwood Asset Management (now part of Coinshares).
The data in the report comes from a survey conducted in April across a sample of 77 professional crypto hedge fund managers, PWC explained that their total assets under management (AUM) was $4.1 billion in 2021.
The report includes a bitcoin price forecast.” We gave crypto fund managers the opportunity to contribute their estimates of where the price ofBTCand the market capitalization of the entire cryptocurrency market would be on December 31, 2022,” the Big Four accounting firm detailed.
As a result, “While the overall crypto market was quite bearish, managers remained very bullish onBTCand reported that the median BTCprice estimate was $28},” noting that the median BTCprice was $75, 000,” PWC detailed.
The majority of forecasts were in the $75,000 to $100,000 range (42%), with another 35% predictingBTCprices to be between $50,000 and $75,000 by the end of 2022.
John Garvey, Global Financial Services Leader at PWC U.S., comments:
The recent Terra collapse vividly demonstrated the potential risk in digital assets. Volatility will continue, but the market is maturing.
“With that comes more crypto-focused hedge funds and higher AUM as well as more traditional funds entering the crypto space,” he concluded.
PWC also explained that 38% of the traditional hedge funds surveyed are now invested in digital assets, compared to 21% a year ago. The firm added:
The number of hedge funds specializing in crypto is now estimated to exceed 300 worldwide.
It further revealed that 46% of the crypto hedge funds surveyed are involved in cryptocurrency staking, 44% in lending, and 49% in bowling.
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