42% of hedge funds expect Bitcoin to reach $75K to $100K by the end of this year
A new study reveals that most crypto hedge fund managers anticipate Bitcoin’s recovery this year despite the ongoing fall in BTC prices.
PricewaterhouseCoopers (PwC) shares data from a survey conducted by CoinShares in Q1 2022, focusing on crypto speculative funds.
Data from the study shows that although the cryptocurrency market was bleak at the time of the survey (April 2022), speculative fund managers were still highly optimistic about Bitcoin.
“All respondents predicted that Bitcoin would end the year above the survey price ($40,000), with an average prediction of the BTC price of $75,000. The majority of predictions are between $75,000 to $100,000 (42%), and 35% predict that Bitcoin prices will be between $50,000 to $75,000 by the end of 2022.”
The respondents are also optimistic that the total market capitalization of cryptocurrencies will surpass 1.5 trillion dollars by the end of the year.
“Fund managers are also optimistic about changes in cryptocurrency market capitalization in the coming year, with over 97% of fund managers expecting the market to end significantly above current levels with an average prediction of capitalization of $3 trillion. Most capitalization projections range from $2 trillion to $3 trillion.“
The report does not indicate how recent events may affect the estimates.
At the time of writing, BTC was being traded for $23,000. Global cryptocurrency market capitalization is $1.06 trillion, according to CoinMarketCap.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
KAI
CoinCu News
Author
Bitcoin
42% of hedge funds expect Bitcoin to reach $75K to $100K by the end of this year
A new study reveals that most crypto hedge fund managers anticipate Bitcoin’s recovery this year despite the ongoing fall in BTC prices.
PricewaterhouseCoopers (PwC) shares data from a survey conducted by CoinShares in Q1 2022, focusing on crypto speculative funds.
Data from the study shows that although the cryptocurrency market was bleak at the time of the survey (April 2022), speculative fund managers were still highly optimistic about Bitcoin.
“All respondents predicted that Bitcoin would end the year above the survey price ($40,000), with an average prediction of the BTC price of $75,000. The majority of predictions are between $75,000 to $100,000 (42%), and 35% predict that Bitcoin prices will be between $50,000 to $75,000 by the end of 2022.”
The respondents are also optimistic that the total market capitalization of cryptocurrencies will surpass 1.5 trillion dollars by the end of the year.
“Fund managers are also optimistic about changes in cryptocurrency market capitalization in the coming year, with over 97% of fund managers expecting the market to end significantly above current levels with an average prediction of capitalization of $3 trillion. Most capitalization projections range from $2 trillion to $3 trillion.“
The report does not indicate how recent events may affect the estimates.
At the time of writing, BTC was being traded for $23,000. Global cryptocurrency market capitalization is $1.06 trillion, according to CoinMarketCap.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
KAI
CoinCu News
Other Posts
Related Posts
Latest
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
Crypto Advisory Council Now A White House Position Attracting Leaders
Press Release
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries
