Crypto consumer skepticism decreasing, but some expect bitcoin price to fall; mixed sentiment.

From Investing.com: 2024-04-09 00:21:14

A recent Deutsche Bank survey found that consumers are becoming less skeptical about bitcoin, with 52% believing it will be important in the future. However, a third of U.S. respondents still expect bitcoin to drop below $20,000 by the end of 2024, despite its recent price surge.

Despite concerns from regulators about bitcoin’s lack of inherent value and risks, the number of people who think cryptocurrencies are just a passing fad has dropped to less than 1%. Only 10% of survey respondents expect bitcoin to exceed $75,000 by the end of the year.

Bitcoin reached a three-week high, sparking excitement about spot bitcoin ETFs and potential rate cuts. Analysts believe the recent price increase may indicate investors are dismissing earlier warnings, supported by factors like the upcoming “bitcoin halving” and regulatory decisions on crypto ETFs.

Read more at Investing.com: Crypto survey shows less consumer scepticism, but a third expect bitcoin price fall By Reuters