FTX Implosion Will Drive Bitcoin To Print Deeper Bear Market Lows, According to New Survey of Crypto Executives
A brand new survey is revealing the value targets of executives within the crypto area for Bitcoin (BTC) following the high-profile implosion of FTX.
In new analysis, Web3 consulting agency BDC interviewed 53 C-level executives concerned in varied crypto initiatives together with funds, decentralized finance (DeFi) and GameFi.
Based on the survey, crypto executives imagine that Bitcoin is probably going headed into deeper bear territory. On common, the respondents assume that BTC will cease its decline at $11,479, which is 27.89% decrease than Bitcoin’s present value of $15,918.
Taking a look at stablecoins, the survey reveals that 91% of ballot respondents imagine that crypto belongings equivalent to Tether (USDT), USD Coin (USDC) and Binance USD (BUSD) is not going to lose their peg to the US greenback regardless of bearish market circumstances.
As for the private funding techniques of C-level managers who participated within the ballot, the survey revealed nobody plans to trim their crypto holdings amid the bear winter.
Based on the examine, 66% of the respondents have plans so as to add to their crypto portfolio over the following month, whereas the remaining members say they won’t take any motion. The survey highlights that not a single ballot participant selected the choice “No, I plan to cut back my present crypto portfolio” among the many attainable responses.
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Featured Picture: Shutterstock/Shacil