Bitcoin Is More Likely To Reach $10,000 According To A Wall Street Survey

According to 60% of participants in the most recent Bloomberg MLIV Pulse survey, Bitcoin (BTC) is more likely to fall to $10,000 than to rise to $30,000 in the near future.

Investors are still skeptical of cryptocurrency

A Bloomberg MLIV Pulse survey showed that 60% of respondents believe that the world’s largest cryptocurrency is moving towards the $10,000 mark. Meanwhile, 40% of respondents think that it will eventually return to the $30,000 level. 

Most of those investors who participated in the survey expressed at least a certain degree of skepticism regarding cryptocurrencies.

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“The lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets” the outlet stated.

Retail investors are more fearful than institutional investors

The report also noted that individual investors were more wary than institutional investors. Nearly 25% of those polled believed digital assets were “trash,” yet a comparable percentage believed they represented the future of banking.

Overall, investors’ attitudes regarding the sector are still divisive, with 28% of respondents thinking cryptocurrencies are the way of the future of finance and 20% saying they are useless.

Since reaching their high in November, when they were approximately $69,000, bitcoin values have fallen by about 70%. The leading cryptocurrency is currently trading at $20,443, down 4% from the last 24 hours but up 5.9% from the previous 7 days.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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