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Bitcoin Could Hit $100K By Yearend, Majority Of Fund Managers Predict, Based On Survey |

Bitcoin received another brawny beat on Wednesday as its price inched closer to the $ 20,000 commemorate. Since then, the BTC price has risen alongside early cryptocurrencies as the US cardinal depository financial institution announced its largest interest rate addition in three decades .
Despite the chaos, a recently published research finds that the majority of crypto fund managers remain bullish, with some project that Bitcoin may even reach $ 100,000 by the end of the class .

Bitcoin Can Still Turn The Tide Around Despite Ongoing Tsunami

According to a study conducted by fiscal services firm PricewaterhouseCoopers ( PWC ), majority of crypto fund managers surveyed believe that the worldly concern ’ s most sought crypto asset can however extricate itself out of the pit and reach a prize of between $ 75K and $ 100K by the end of this year .
The “ 4th annual Global Crypto Hedge Fund Report ” is based on an April review of 77 specialist crypto hedge fund managers, according to PWC, which besides noted that their entire assets under management ( AUM ) surpassed $ 4 billion last year.

Majority of predictions (42%) placed the price of BTC between $75K and $100K by end of 2022. Image: Moneycontrol.

As with earlier versions of the survey, PWC – one of the populace ’ s Big Four account firms – asked respondents to forecast Bitcoin ’ randomness monetary value at the end of 2022. Despite the negative cryptocurrency market at the time of the learn, hedge fund managers remain amazingly enthusiastic on the crypto .

A Most Bullish Majority Prediction: Bitcoin At $100,000

“ We gave crypto fund managers the opportunity to contribute their estimates on where the price of BTC and the overall cryptocurrency grocery store capitalization would be on Dec. 31, 2022, ” PWC said.

The battalion of estimates ( 42 percentage ) pegged Bitcoin ’ randomness price between $ 75,000 and $ 100,000 by the end of 2022, while another 35 percentage placed it between $ 50,000 and $ 75,000 by the end of this class .

BTC total market cap at $405 billion on the daily chart | Source:

The majority of respondents believe that the sum value of the crypto marketplace, which was approximately $ 1.5 trillion at the conclusion of the study, will end up being higher.

Related Reading | Crypto Employees Sacked By Their Bosses Can Find Jobs With This U.S. Agency
John Garvey, drawing card of ball-shaped fiscal services for PWC in the United States, stated that the late crumble of Terra clearly illustrated the built-in hazards associated with digital assets. “ The grocery store will continue to have excitability, but it is maturing, ” he said .
meanwhile, in summation to the enormous development of cryptocurrency hedge funds over the former year, the research highlighted bitcoin ’ second continued laterality within both cryptocurrency hedge funds and more traditional funds .

Featured image from GDA Capital, chart from
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