A new survey shows that the majority of nearly 1,000 investors who responded expect bitcoin’s price to drop to $10K. A further 28% responded to the survey stating that they believe cryptocurrencies will be the future in finance, while 20% stated that they were worthless.
Bitcoin Investors Think It Could Drop to $10K
The latest Bloomberg MLIV Pulse survey, conducted from July 5-8, asked 950 investors who responded where they see bitcoin’s price heading.
Respondents were asked, “Which level will bitcoin trade at first? $10K or $30K.” According to the results published Monday, 60% of them said BTC will drop to the $10K level first.
Bloomberg revealed that 28% respondents believed that cryptocurrency is the future of finance. 20%, however, said that they have no value.
When asked about NFTs, only 9 percent of the respondents answered that they could be used as an investment option. They are viewed by most as status symbols or art projects.
Bitcoin is currently trading at $20.553, down 3.3% in the last 24 hours, and up 40% for a 1-year period.
Much has been said about bitcoin’s future. Shark Tank star Kevin O’Leary said last week that he doesn’t believe we’ve seen the bottom yet. He said that Cryptocurrency will see a huge panic.
Fidelity investment’s recently stated that Bitcoin is still cheap at current levels. Deutsche Bank forecasted in June that BTC would rise to $28K before the end of this year. However, it cautioned that crypto-free fall could persist.
Is it possible that the bitcoin price could fall as low as $10K? Comment below.
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