The latest survey conducted by Goldman Sachs among family businesses shows a decrease in interest in cryptocurrencies.
The Family Office Investment Insight Report 2023 surveyed 166 family businesses between January 17 and February 23, 2023. 57% of respondents were based in the Americas, 21% in EMEA, and 22% in APAC. Of the institutions surveyed, 93% had a net worth of at least $500 million and 72% had at least $1 billion AUM. The survey was addressed to decision-makers and the questions focused on their investment plans for the next 12 months.
According to the survey, family businesses are “taking risks by increasing their allocations to public and private equities in particular, while modestly adding fixed income exposure to capitalize on higher interest rate opportunities.”
The study found that, on average, family businesses invested 28% of their capital in publicly traded shares, 26% in private equity, 12% in cash and cash equivalents (excluding US Treasury bonds) and 10% in fixed income investments . Moreover, 9% of their money was invested in private real estate and infrastructure, 6% in hedge funds and 3% in private loans, and only 1% in commodities such as precious metals.
Technical Market Outlook:
The ETH/USD pair has failed to break through the 50 and 100 MA resistance zone located at $1,885 and only a sustained breakout above this resistance level would open the road towards the swing high seen at $2,140. The market reversed sharply and now is trading below the 50 and 100 MA on the H4 time frame chart around the technical support seen at $1,820. The next target for bears is seen at $1,807 and $1,787, just below the short-term trend line support. The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for ETH.
Weekly Pivot Points:
WR3 – $2,016
WR2 – $1,941
WR1 – $1,902
Weekly Pivot – $1,871
WS1 – $1,829
WS2 – $1,798
WS3 – $1,726
Trading Outlook:
The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.
The material has been provided by InstaForex Company – www.instaforex.com
Crypto Industry News:
The latest survey conducted by Goldman Sachs among family businesses shows a decrease in interest in cryptocurrencies.
The Family Office Investment Insight Report 2023 surveyed 166 family businesses between January 17 and February 23, 2023. 57% of respondents were based in the Americas, 21% in EMEA, and 22% in APAC. Of the institutions surveyed, 93% had a net worth of at least $500 million and 72% had at least $1 billion AUM. The survey was addressed to decision-makers and the questions focused on their investment plans for the next 12 months.
According to the survey, family businesses are “taking risks by increasing their allocations to public and private equities in particular, while modestly adding fixed income exposure to capitalize on higher interest rate opportunities.”
The study found that, on average, family businesses invested 28% of their capital in publicly traded shares, 26% in private equity, 12% in cash and cash equivalents (excluding US Treasury bonds) and 10% in fixed income investments . Moreover, 9% of their money was invested in private real estate and infrastructure, 6% in hedge funds and 3% in private loans, and only 1% in commodities such as precious metals.
Technical Market Outlook:
The ETH/USD pair has failed to break through the 50 and 100 MA resistance zone located at $1,885 and only a sustained breakout above this resistance level would open the road towards the swing high seen at $2,140. The market reversed sharply and now is trading below the 50 and 100 MA on the H4 time frame chart around the technical support seen at $1,820. The next target for bears is seen at $1,807 and $1,787, just below the short-term trend line support. The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for ETH.
Weekly Pivot Points:
WR3 – $2,016
WR2 – $1,941
WR1 – $1,902
Weekly Pivot – $1,871
WS1 – $1,829
WS2 – $1,798
WS3 – $1,726
Trading Outlook:
The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.
The material has been provided by InstaForex Company – www.instaforex.com
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