Bitcoin More Likely To Hit $10,000 Than $30,000, Investors Say In Survey
When asked about non-fungible tokens (NFTs), a mere 9 percent of participants said they were an investment opportunity.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, has been finding itself in troubled waters over the last few months, with prices dipping to as low as $18,000 recently. On Monday, a Bloomberg MLIV Pulse survey revealed that investors think that the Bitcoin price is more likely to drop to $10,000 before it is able to surpass the $30,000 mark. At the time of writing, BTC price stood at $19,731.31 as per CoinMarketCap data.
The survey was conducted from July 5 to July 8 with a sample size of 950 investors. The survey asked, “Which level will Bitcoin trade at first? $10K or $30K.” As per the results, 60 percent of the respondents said the cryptocurrency’s price will drop to $10,000 first.
The survey reflected the growing uncertainty and the general skepticism around cryptocurrencies. Among respondents, 28 percent had confidence in cryptocurrencies being the future of finance. On the other hand, 20 percent said cryptos are worthless.
When asked about non-fungible tokens (NFTs), a mere 9 percent of participants said they were an investment opportunity. Most of the respondents saw NFTs as art projects or status symbols.
ALSO SEE: EXPLAINED | NFT: What Is It? Should Creators Consider Selling Their Art As NFTs?
The overall crypto market has been seeing a major slump since an unprecedented LUNA crash back in May. The current Bitcoin price is worryingly lower than its all-time high of $68,000, seen in November 2021.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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