Many Retail Investors See Bitcoin Price Dropping Below $20K by Year End: Deutsche Bank
Summary
Bitcoin's price has dropped after the launch of spot exchange-traded funds (ETFs) in the U.S. Deutsche Bank's survey of 2,000 consumers in the U.S., U.K., and Europe revealed that over one-third expect Bitcoin to drop below $20,000 by year end, and more people anticipate its disappearance than its continuation. The approval of spot Bitcoin ETFs was seen as a game changer, but over half of the respondents expressed concerns about a major cryptocurrency collapse within the next two years. The survey also highlighted a lack of understanding of cryptocurrencies among consumers. Ongoing regulatory crackdown in the U.S. and past events like the demise of crypto exchange FTX and the collapse of terraUSD are contributing to poor sentiment.
