The cryptocurrency market, in its current form, is still very young. It’s only been around for a couple of years, having started in 2009, and with a current market cap of $500 billion that’s not a lot to go on for the market to have already begun to show signs of growth.
A recent survey conducted by CNBC and Ellevest on over 1,000 investors found that 44% of investors expect Bitcoin to drop below $30K in 2023. According to the survey, only 8% of investors believe that Bitcoin is going to rise above $100K.
A recent survey by CNBC found that 44% of investors predict that Bitcoin will fall to $30,000 by the end of next year. While this is far from the $20.6 million raised through the last round of funding, the price is still up more than 50% from its price in early 2017.. Read more about crypto coins dropping and let us know what you think.
During the historical peaks and troughs of the bitcoin price, investors have tried and failed to use traditional markers to understand volatile trends.
CNBC recently interviewed a group of portfolio managers and fund strategists to gain insight into the fintech community’s internal sentiment towards bitcoin. Survey Answers Where will bitcoin be at the end of the year? According to Squawk Box:
Forty-four percent think bitcoin will drop below $30,000 and stay about the same over the year. Others are more optimistic.
Of the remaining 56%, 25% predicted the price would rise to $45,000, while the remaining 25% supported BTC at $55,000. A small minority – 6 percent – said bitcoin could return to the $60,000 mark, close to the all-time high of $65,000 reached in April 2023.
Although experts say that the value of cryptocurrencies can only be equated to their use, unlike speculation and conjecture, bitcoin remains a faithful repository of value. Given the financial state of panic sellers and the changing view of bitcoin and cryptocurrencies, the rate of adoption of cryptocurrencies around the world continues to grow and offer unique usage scenarios.
Since this particular survey represents only a small portion of the cryptocurrency population and in no way reflects general investor sentiment, readers are advised not to make investment decisions based on bearish or bullish market discussions.
On topic: 3 things traders say about bitcoin and the state of the bull market
Bitcoin’s recent drop to $29,000 has shaken investor confidence. Nevertheless, many experienced traders have signaled that an upward cycle is imminent. Since bitcoin has rebounded to $32,000, traders expect BTC to return to its former glory.
Other experts have also predicted the rise of cryptocurrencies based on the weakening of fiat currencies around the world. Governments of large economies continue to oversee small economies that have not been able to sustain traditional fiat currency infrastructure.A recent survey from CNBC revealed that 44% of investors expect Bitcoin to drop below $30K in 2023, when the next major downturn will happen.. Read more about bitcoin to zero and let us know what you think.
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