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Vandana Malik
Apr 7, 2020
by Vandana Malik

PwC Remarked that Crypto Industry not Immune to Crisis

PwC
PricewaterhouseCoopers (PwC), a multinational professional services network has made certain remarks towards the crypto industry. It has been said that even though the crypto industry went through a bad phase last year, the situation doesn’t seem to get better this year also. The network has revealed how the fundraising and M&A in the crypto industry has gone down very low last year.

PwC says that Crypto Industry unable to get mainstream investment 

PwC says that through reports, it has been revealed that the crypto industry was unable to get institutional investors. This could be said as the industry was unable to get investments from institutional investors which indicates that they are not attracted by cryptocurrency.

The firm has also said that even though the price of bitcoin has gone up to $13,500 in July 2019 along with other notable increases in the year, it was unable to get the investment from the mainstream investors. This must-have shattered the hopes of the whole crypto industry. When the institutional investors started investing in the crypto industry, it started hoping that there will be big investments in the future also.

The situation might get worse because of COVID-19

The reports are coming on a daily basis which shows how the coronavirus pandemic has affected the global economy. It has been affected adversely and the whole financial market is going through a huge slowdown. Because of this slowdown, it is quite indicative that there will not be any investments by institutional investors in the near future.

Some of the analysts from the industry are believing that there might be a growth in the investors this year. These investors will majorly belong to Asia and the Middle East.

Well, several reports have also suggested that after some time the crypto industry will not be that much relevant. This could be possible because it is unable to attract the mainstream investors till now.

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    PwC Remarked that Crypto Industry not Immune to Crisis
    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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