Crypto survey shows less consumer scepticism, but a third expect Bitcoin price fall

economictimes.indiatimes.com:

bitcoin, a Deutsche Bank survey published on Monday showed, although just under a third of those questioned still expect its price to drop sharply by the end of 2024.

Why It's Important

Although people have poured billions of dollars into bitcoin, hoping for returns if its price rises, top regulators have said it has no inherent value and presents risks.

By The Numbers

Deutsche Bank said it surveyed more than 3,600 consumers, with 52% of respondents saying cryptocurrencies will be an «important asset class and method of payment transactions» in future. Less than 40% said when surveyed in September 2023.

A third of US respondents expect bitcoin to drop below $20,000 by the end of 2024. This group is getting slightly smaller. It was 35% in February and 36% in January.

Did you Know?

The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.

The number of people who think cryptocurrencies are «just a fad that will eventually fade» dropped to less than 1%.

Still, only 10% of respondents expect bitcoin to be above $75,000 by year-end.

Context

Bitcoin hit a three-week high on Monday. It reached an