Saturday, January 28, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

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

by e-Naira Online News
June 14, 2022
in Crypto
Reading Time: 3 mins read
A A
0
Home Crypto
Share on FacebookShare on Twitter


Major financial services firm PWC has conducted a study and found that the majority of crypto fund managers surveyed believe that the price of bitcoin would be between $75K and $100K by the end of this year.

Bitcoin’s Price Estimate by Crypto Fund Managers

PWC, a Big Four accounting firm, published its “4th Annual Global Crypto Hedge Fund Report” last week. It was produced together 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 specialist crypto hedge fund managers, PWC explained, adding that their total assets under management (AUM) were $4.1 billion in 2021.

The report includes bitcoin price predictions. “We gave crypto fund managers the opportunity to contribute their estimates on where the price of BTC and the overall cryptocurrency market capitalization would be on 31 December 2022,” the Big Four accounting firm detailed.

The results showed that “while the overall crypto market was quite bearish, managers remained extremely bullish on BTC,” the report describes. Noting that “the median prediction of BTC price being $75,000,” PWC detailed:

The majority of predictions were within the $75,000 to $100,000 range (42%), with another 35% predicting the BTC price to be between $50,000 and $75,000 by the end of 2022.

John Garvey, PWC United States’ global financial services leader, commented:

The recent collapse of Terra vividly demonstrated the potential risks in digital assets. There will continue to be volatility, but the market is maturing.

“With that is coming not only many more crypto-focused hedge funds and higher AUM but also more traditional funds entering the crypto space,” he concluded.

PWC also explained that 38% of traditional hedge funds surveyed are currently investing in digital assets, compared to 21% a year ago. The firm added:

The number of specialist crypto hedge funds is estimated to now top 300 globally.

Furthermore, 46% of crypto hedge funds surveyed revealed that they are involved in cryptocurrency staking, 44% are engaged in lending, and 49% are involved in borrowing.

What do you think about the crypto fund managers’ bitcoin price prediction? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Tags: 100KBitcoinCryptofundmajorityManagersMarketsNewsPredictpricesReachSurveyedYearEnd
Previous Post

Presidency: El-Rufai’s politics of consistent nationalism

Next Post

Something to learn from the way Osinbajo just handled the irregular verb, ‘begin’

Related Posts

Crypto

Why it’s a bad idea to bet against the Crypto market right now

by e-Naira Online News
January 28, 2023
Crypto

Sao Paolo Introduces Blockchain in Data Access Law – Regulation Bitcoin News

by e-Naira Online News
January 28, 2023
Crypto

FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight – Bitcoin News

by e-Naira Online News
January 27, 2023
Crypto

Financial Advisors See Strong Interest in Crypto — 90% Receive Inquiries About Crypto Investing, Survey Shows – Featured Bitcoin News

by e-Naira Online News
January 27, 2023
Crypto

Crypto bulls ride on again as Tesla keeps its Bitcoin stash

by e-Naira Online News
January 26, 2023
Next Post

Something to learn from the way Osinbajo just handled the irregular verb, ‘begin’

Nigeria to begin production of military, paramilitary uniforms 2023 — Business — The Guardian Nigeria News – Nigeria and World News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

Currency Swap Will Stabilise, Strengthen Economy—Buhari

January 28, 2023

Three die in fresh US shooting

January 28, 2023

Moody’s downgrades Nigeria’s currency and debts ratings to Caa1, cites Ways and Means

January 28, 2023

Why it’s a bad idea to bet against the Crypto market right now

January 28, 2023

The Importance Of Business Continuity Planning

January 28, 2023

Oduwacoin, Other Crypto That Cost Less Than $1

January 28, 2023

Debts upon debts! Supreme Court rules against Honeywell Flour, as firm struggles with N67.02bn loans

January 28, 2023

Sao Paolo Introduces Blockchain in Data Access Law – Regulation Bitcoin News

January 28, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.