Investors Expect Bitcoin to Drop to $10,000 – Markets and Prices Bitcoin News
A new survey shows that the majority of the nearly 1,000 investors who responded expect the price of Bitcoin to drop to $10,000. In addition, 28% of respondents expressed strong confidence that cryptocurrencies are the future of finance while 20% said they are worthless.
Investors believe Bitcoin could drop to $10,000
The latest Bloomberg MLIV Pulse poll, conducted July 5-8, asked 950 investors who answered where they see the Bitcoin price headline.
Respondents were asked, “What is the level of Bitcoin trading initially? $10K or $30K.” According to the results published on Monday, 60% of them said that BTC will drop to the $10,000 level first.
Moreover, 28% of respondents expressed strong confidence that cryptocurrencies are the future of finance while 20% said they are worthless, Bloomberg reports, adding that most respondents were at least slightly skeptical about cryptocurrencies.
When asked about non-fungible tokens (NFTs), only 9% of respondents said it was an investment opportunity. The majority consider them art projects or status symbols.
At the time of writing, Bitcoin is trading at $20,553, down 3.3% in the past 24 hours and 40% over a one-year period.
There has been a lot of discussion about where the bottom is for Bitcoin. Shark Tank star Kevin O’Leary said last week that he doesn’t think we’ve seen the bottom yet. He warned of a major panic in cryptocurrencies.
Fidelity Investments analyst recently said that at the current level, bitcoin is cheap. Deutsche Bank predicted in June that BTC would rise to $28,000 by the end of the year, but warned that the cryptocurrency freefall could continue.
Do you think the price of bitcoin will drop to $10,000? Let us know in the comments section below.
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