The Bitcoin market has seen a lot of ups and downs over the last year. From suffering blows from China’s ban on cryptocurrency to reaching all-time high values, Bitcoin has been volatile yet growing. As per a new survey by the Bank of America, 25% of global fund managers are optimistic about the growth of crypto. One-quarter of the surveyed fund managers believe that by the end of 2022, the price of Bitcoin will hit $75K. It recently crossed the $65K mark, and steady progress to $75K does not seem unlikely. However, many leading investors have recently warned against investing in Bitcoin, including Twitter CFO Ned Segal. That does not seem to deter global fund managers from believing in the potential of cryptocurrency.
Investors have always been divided about cryptocurrency. With some believing it to be the future of economic transactions, others have often referred to it as a ‘bubble’ waiting to burst. Some investors have gone as far as saying that a Bitcoin crash will be the mother of all crashes. Despite so many predictions, Bitcoin is showing no sign of stopping. While price fluctuations here and there are still common, there has been no significant blow to Bitcoin. However, that might start changing with governments increasingly interfering with digital asset transactions. With global fund managers showing high confidence in the ecosystem, it seems unlikely for it to go through an irrecoverable crash.
