Deutsche Bank Reveals: Investors Most Optimistic About Cryptocurrencies

An eye-opening survey from Deutsche Bank has illuminated a new trend in the world of cryptocurrencies: consumers are adopting an increasingly positive outlook. With the approval of Bitcoin ETFs in sight and the crypto market generally bullish, the survey brought to light that a notable 40% of respondents see a bright future for Bitcoin. Less than 1% reject the idea, considering it a passing trend.

However, the survey also found that a majority, more than 50%, anticipate a possible major collapse in the crypto universe by 2026, while 38% speculate that Bitcoin could “disappear” in the coming years. This sentiment comes in the wake of tumultuous events, including the collapse of cryptocurrency Terra and the implosion of exchange FTX.

Despite this, Bitcoin has recently reached new heights, reaching its all-time high value. However, a third of those surveyed by Deutsche Bank project that the price of Bitcoin will fall below $20,000 by the end of the year. At the same time, an optimistic 10% predict the value will exceed $75,000, marking a significant increase of 8.7% since this article was written.

The US Securities and Exchange Commission’s (SEC) battle against cryptocurrencies, especially in defining their classification as an asset class, is a significant battleground. Statements like those from SEC Chairman Gary Gensler, who described cryptocurrencies as “highly speculative,” and SEC official Bill Himan denying that Ethereum is a security, reflect the complexity of the situation.

The Deutsche Bank survey also revealed that despite the uncertainties, a majority of customers consider crypto assets in various ways: 65% as a substitute for cash, 78% as a commodity and 74% as a store of value, similar to gold, which, according to them, is not a title.

It is interesting to note that, even with the opening of doors to cryptocurrencies through spot ETFs, the March survey showed that two-thirds of consumers have “no understanding” or “minimal understanding” about cryptos, underlining the importance of education in the sector .

At the time of publication, the price of BTC was quoted at US$69,459.70, up 1% in the last 24 hours.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.