Cryptocurrency hedge fund managers predicted rise in the bitcoin price to $75 000

97% of those surveyed believe that the market can grow 3 times before the end of the year

13.06.2022 - 14:00

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What’s new? Most cryptocurrency hedge fund managers expect the bitcoin price to rebound in 2022, despite the recent market decline. This data comes from a study by PricewaterhouseCoopers (PwC), one of the largest consulting firms.

The full version of the study on the PwC website

What other data has been published? Analysts at PwC cite the results of a survey by digital assets manager CoinShares in the first quarter of 2022, according to which a significant part of respondents predicted that the price of BTC would exceed the $40 000 mark by the end of the year. The median prediction was $75 000.

42% of hedge fund managers surveyed said that the bitcoin price will be in the $50 000 to $75 000 range by the end of 2022. And 97% of respondents expect the market capitalization to rise to $3 trillion.

As of June 13, 13:50 UTC, bitcoin is trading at $23 471, according to Binance, and the total capitalization of the crypto market is $1б01 trillion, according to CoinGecko.

Earlier, Bloomberg Intelligence senior commodities analyst Mike McGlone compared the current economic situation in the world to the aftermath of the Great Depression of 1929. The expert said that the market is now starting to experience the biggest inflation in the last 40 years, and once the crisis is overcome, bitcoin may become one of the most valuable assets on the planet.

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