Consumers recently surveyed by Deutsche Bank are divided over Bitcoin's staying power
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This implies a $50,000 decline in BTC's current price, returning it to levels last seen during a prolonged bear market in 2022. Only 10% of the more than 3,600 respondents polled expected Bitcoin to reach $75,000 by the end of December.About 40% of respondents were optimistic that Bitcoin will thrive in the coming years, while 38% expected it to disappear. At the same time, the March study revealed that less than 1% thought cryptocurrency was a fad.
The findings indicate a notable shift in sentiment, with a significant portion of respondents expressing skepticism about Bitcoin's long-term viability and future price trajectory.falling below the $20,000 mark are particularly striking given the cryptocurrency's rapid climb in recent months, with prices reaching all-time highs of more than $73,000 in mid-March.
At the time of writing, BTC had dropped 1.61% in the previous 24 hours to $70,115. Bitcoin's 67% increase this year outperformed traditional assets such as global stocks and gold. Despite the pessimistic outlook expressed in the survey, it is essential to note that predictions about Bitcoin's future price movements are inherently speculative., a trader with over four decades of experience tracking markets, expects the ongoing Bitcoin bull market to peak at $200,000, up from his initial forecast of $120,000.There are also seven-figure price targets for the Bitcoin price.
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