More than half of crypto derivatives industry representatives expect a tougher approach from regulators around the world in the wake of recent drops in crypto-asset prices. And a majority of surveyed experts argue that Bitcoin (BTC) will once again reach a threshold above USD 65,000, according to a report by market trading information provider Acuity.
The report Crypto Derivatives Management Insight The company’s Q3 2022 release includes an analysis of the impact of recent cryptocurrency price drops, as well as industry views on regulation and the impact it will have on market structure.
The study is based on the views of the Crypto Derivatives Expert Network of Acuiti, an international group of senior executives from hedge funds, banks, brokers, asset managers and stock exchanges. The survey was conducted between June 30 and July 19.
The report indicates that around 59% of network members foresee tougher regulation, which will be the main medium-to-long-term effect of this year’s price drop in the crypto market.
What do you think will be the main medium and long-term effects of the recent fall in cryptocurrency prices?
Despite these predictions, the industry’s confidence in Bitcoin and the crypto’s potential to return to its peak price level appears unshaken by the market decline seen this year, according to Acuiti’s report.
“84% of respondents believe Bitcoin will climb back above $65,000, but opinions differ on how long it will take to get there,” the company says.
Will Bitcoin go back above USD 65,000?
Separately, a third of the network predicted that BTC will drop as low as $15,000, the document says, noting that the survey was conducted before the price rally in early August.
What do you think will be the lowest point for BTC this year?
Meanwhile, 50% of experts said the market will move closer to the world’s traditional financial institutions, and 58% of industry representatives surveyed said they expect banks to play an important role in authorized decentralized finance. (“permissioned” DeFi). Only 3% pointed out that this coming together would happen within the pure DeFi sector.
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