Investors expect the price of Bitcoin to fall to $10,000

A new poll shows that the majority of nearly 1,000 investors expect the price of Bitcoin to fall to $10,000. In addition, 28% of respondents expressed strong confidence that cryptocurrencies are the future of finance, while 20% said they are worthless. Investors Believe Bitcoin Could Drop to $10,000 The recent Bloomberg MLIV Pulse survey, conducted July 5-8, asked 950 investors who responded where they see the price of Bitcoin heading.

Investors were asked: “At what level should I trade Bitcoin initially? $10,000 or $30,000.” According to the results published on Monday, 60% of them said that BTC will drop to the $10,000 level first.

MLIV Pulse survey results show that investors believe Bitcoin is headed lower. Source: Bloomberg Moreover, 28% of participants expressed strong confidence that cryptocurrencies are the future of finance while 20% said they are worthless, Bloomberg reported, adding that most participants were a little skeptical about cryptocurrencies. When asked about non-fungible tokens (NFTs), only 9% of respondents said it was an investment opportunity.

The majority consider them artistic projects or status symbols. At the time of writing, Bitcoin is trading at $20,553, down 3.3% in the past 24 hours and 40% in one year. There has been a lot of discussion about where the bottom is for Bitcoin.

Shark Tank star Kevin O'Leary said last week that he doesn't think we've seen the bottom yet. He warned of a major panic in cryptocurrencies. Analyst Fidelity Investments recently said that at the current level, Bitcoin is considered cheap.

Deutsche Bank in June predicted that BTC would rise to $28,000 by the end of the year, but warned that the cryptocurrency's sharp decline could continue.