Based on the information provided, this falls under the category of stock price movement information. The latest consumer survey by Deutsche Bank shows that consumers have divergent views on the long-term trend of Bitcoin, with about one-third of people expecting Bitcoin to fall below $20,000 by the end of this year. This suggests that Bitcoin may experience a significant decline and return to levels seen during the deep bear market of 2022. Around 10% of people believe that the price of Bitcoin will exceed $75,000 by the end of the year. Looking ahead in the coming years, approximately 40% of respondents are confident in the prosperity of Bitcoin, but 38% expect it to disappear
According to the information from Zhitong Finance APP, a survey conducted by Deutsche Bank shows that there is a divergence in consumer sentiment towards the long-term trend of Bitcoin. About one-third of people expect Bitcoin to fall below $20,000 by the end of this year.
This means that the digital token will drop by about $50,000 from the current price and return to the levels seen during the deep bear market of 2022. Out of over 3,600 survey respondents, only 10% believe that the price of Bitcoin will exceed $75,000 by the end of the year.
Looking ahead in the coming years, around 40% of respondents are confident in the prosperity of Bitcoin, while 38% expect it to disappear. Meanwhile, a survey conducted in March showed that less than 1% of people believe that cryptocurrencies are just a passing fad.
As of the time of writing, the trading price of Bitcoin has dropped by 0.73% to around $70,155. In mid-March, this cryptocurrency briefly reached a historical high of $73,798. Bitcoin's 67% increase so far this year has outperformed traditional assets such as global stocks and gold.
The influx of funds into the U.S. spot Bitcoin ETF, established just three months ago, has boosted the token and led supporters to argue that the demand for cryptocurrencies will expand. Critics, on the other hand, point out that Bitcoin has no intrinsic value and is purely a speculative playground with inevitable liquidation risks.
Bitcoin is set to undergo the so-called halving this month, a quadrennial event that significantly reduces the new supply of Bitcoin. Some view this as a bullish tailwind.
Victoria Bills, Chief Investment Strategist at Banrion Capital, stated: "Due to the upcoming halving, you will see a lot of sustained upward momentum in the market."