33% people believe Bitcoin will crash to $20k in 2024: Survey 

Survey results showed that huge numbers of people are still sceptic about the performance & future of Bitcoin and believe it will collapse badly. 

Deutsche Bank, a major German bank, does a variety of financial services, but it had some legal issues recently. However, it’s now offering a service to keep big companies’ Bitcoin and other cryptocurrencies safe. For Bitcoin services, this Bank partnered with a Swiss company called Taurus in September 2023.

Recently Deutsche Bank shared a survey result, conducted on its 3,600 consumers to find out their current stance for Bitcoin. 

Data showed that one-third of the respondents expect that the trade price of Bitcoin will crash below $20,000 by the end of this year.

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That means, 33% of Deutsche Bank customers are bearish on Bitcoin and believe Bitcoin will crash to -70%  in the next 9 months. 

1% of the survey respondents said that Bitcoin is a fad. That means there is a very small fraction of people who think that Bitcoin is a bubble & they believe that soon this top market cap digital asset may face a big downfall.

On the other hand, 10% of Deutsche customers showed full belief in Bitcoin. These respondents said that the Bitcoin trade price will surge to $75k & above. 

Deutsche Bank surveyed 3,600 consumers to find out their opinion of #Bitcoin:

– 1% said it was a fad
– 33% said it'll drop to $20,000
– 10% said Bitcoin will go to $75,000 and beyond

If you think Bitcoin's price will be stagnant or it will drop, you are part of the majority…

— Rajat Soni, CFA (@rajatsonifnance) April 11, 2024

This survey result shows a very big picture, where we can see that the reputation of Bitcoin is still same over the last bull cycle among the world population and here we expect that it will take time for the Bitcoin market to gain top level of bull support. 

In a recent interview with Cointelegraph, VanEck CEO Eck shared very big data around Bitcoin spot ETF products and said that the majority of the investors are retail. 

According to the CEO, only 10% of BTC spot ETF investors are institutional players and it will take some decent time to see more institutional money inflow in this innovative market.

Read also: 90% of Bitcoin spot ETF buyers are retail investors: VanEck

33% people believe Bitcoin will crash to $20k in 2024: Survey 

 

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