Majority of Crypto Hedge Funds Extremely Bullish on Bitcoin Despite Weak Price Action: PwC Study

Majority of Crypto Hedge Funds Extremely Bullish on Bitcoin Despite Weak Price Action: PwC Study


A new study from one of the biggest accounting firms in the world is revealing that the majority of crypto hedge fund managers anticipate a rebound for Bitcoin this year despite BTC’s shaky performance as of late. 

PricewaterhouseCoopers (PwC) shares data from a survey conducted by digital assets manager CoinShares in Q1 2022, focusing on crypto hedge funds and excluding crypto index funds and crypto venture capital funds. 

Data from the study shows that even though the crypto winter was already ongoing at the time of the survey, (April 2022), hedge fund managers remained extremely bullish on Bitcoin.

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“All respondents predicted that BTC would end the year above the prevailing price upon survey closure, $40,000, with the median prediction of BTC price being $75,000. 

The

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