Crypto Derivatives Industry ‘Expects’ Serious Regulation, Bitcoin’s Price Returns to USD 65K
More than half of global crypto derivatives industry representatives say they expect to see a tougher approach from the world’s regulatory agencies as a result of the recent declines in crypto-asset prices – but an overwhelming majority of the experts surveyed claim that bitcoin (BTC) will once again reach the level above USD 65,000, according to a report from the market information provider Acuity.
The company’s Crypto Derivatives Management Insight report for the third quarter of 2022 includes an analysis of the impact of recent crypto price falls, as well as the industry’s view on regulation and the impact it will have on market structure, according to Acuiti.
The study is based on the views of the Acuiti Crypto Derivatives Expert Network, a global group of top executives from hedge funds, banks, brokers, commodity traders, asset managers and exchanges. The survey was carried out between 30 June and 19 July.
The report indicates that around 59% of the network expects a stricter regulatory approach to be the most important medium to long-term effect of this year’s price drop in the crypto market.
What do you think will be the biggest impacts in the medium and long term of the recent falls in crypto prices?
Despite these forecasts, the industry’s faith in bitcoin and the crypto’s potential to return to peak price levels appears to be unshaken by this year’s market downturn, according to Acuiti’s report.
“84% of the network believes Bitcoin will rise back above USD 65,000, but opinions differ on how long it will take to do this,” the company said.
Will BTC Retrace Above USD 65,000?
Meanwhile, a third of the network said BTC will go as low as US$15,000, the report said, noting that the survey was completed before the price surge in early August.
What do you think will be the lowest point BTC reaches this year?
At the same time, 50% of the network said the market will move closer to the world’s traditional financial institutions, and 58% of the industry representatives surveyed said they expect banks to start playing a significant role in permissioned decentralized finance (DeFi). But only 3% said this would happen in pure DeFI.
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