Crypto derivatives industry “expects” tight regulation, Bitcoin price will return to $65,000

Source: AdobeStock / thodonal

More than half of global crypto derivatives industry officials expect tighter action from global regulators due to recent crypto asset price declines – but a decisive majority of the experts polled argue that Bitcoin (BTC) will revisit the level above 65,000, according to a report by a market research provider reach USD Acute.

The company’s Crypto Derivatives Management Insight report for Q3 2022 includes an analysis of the impact of recent crypto price declines, as well as industry views on regulation and how it is affecting market structure, according to Acuiti.

The study is based on the views of the Acuiti Crypto Derivatives Expert Network, a global group of executives from hedge funds, banks, brokers, prop traders, wealth managers and exchanges. The survey was conducted between June 30th and July 19th.

The report reveals that around 59% of the network expects a tighter regulatory approach, which will be the main mid- to long-term impact of this year’s price declines in the crypto market.

What do you think will be the biggest mid- to long-term implications of the recent fall in crypto prices?

Source: Acuiti, Crypto Derivatives Management Insight Report, Q3 2022

Despite these projections, the industry’s belief in Bitcoin and the cryptocurrency’s potential to return to its all-time high price level seems unshakable through this year’s market downturn, according to Acuiti’s report.

“84% of the network believe Bitcoin will rebound above $65,000, but opinions differ on how long it will take,” the company said.

Will BTC Surge Above $65,000 Again?

Source: Acuiti, Crypto Derivatives Management Insight Report, Q3 2022

Meanwhile, a third of the network said BTC will drop as low as $15,000, the report said, noting that the survey was completed ahead of prices’ recovery in early August.

What do you think will be the bottom BTC hits this year?

Source: Acuiti, Crypto Derivatives Management Insight Report, Q3 2022

At the same time, 50% of the network said the market will converge with the world’s traditional financial institutions, and 58% of the industry leaders surveyed said they expect banks to start playing a significant role in enabling decentralized finance (DeFi). But only 3% said this would happen in pure DeFI.

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Learn more:
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– The crypto market is regaining ground ahead of the important meeting in Jackson Hole in the US

– Canadian exchanges cap on annual purchases excludes only Bitcoin, Ethereum, Litecoin and Bitcoin Cash
– 10 traditional companies getting into crypto despite the market downturn

– Galaxy Digital’s Novogratz doubts Bitcoin will break $30,000 soon
– Bitcoin could fall to $13.6k this year, panel says after revising forecasts again

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