Top bitcoin executives give predictions for market after FTX collapse
With the bankruptcy of the FTX exchange, which had a balance sheet hole of about $8 billion, executives at cryptocurrency companies expect bitcoin to fall further and even to depreciate completely. That's according to the results of a survey conducted by BDC Consulting among 53 top project managers from various industries. On average, respondents expect the price of the first cryptocurrency to stop falling at $11,479. Only one respondent expects it to rise to $17,000 in the current situation. Another three did not rule out bitcoin falling to $0.
That said, 91% of survey participants believe FTX's problems will not affect the pegging of Stablecoin to the dollar. The survey found that more than half of top executives intend to increase their investments in cryptocurrencies and have no plans to reduce them. 66% of those surveyed are expected to expand their portfolios over the next month. A third of respondents will not take any active action.
"Even with the general panic, the current downturn opens up investment opportunities that respondents intend to take advantage of by expanding their positions in the crypto market,"
said analysts at BDC Consulting.
Helena Kopecka, Pythagoras news