Home » Business » Bitcoin Spot ETF Approval Sparks Concern among Retail Investors – Deutsche Bank Survey Shows Widespread Pessimism about Bitcoin’s Future

Bitcoin Spot ETF Approval Sparks Concern among Retail Investors – Deutsche Bank Survey Shows Widespread Pessimism about Bitcoin’s Future

The cryptocurrency industry ushered in an important milestone earlier this month, with 11 Bitcoin spot ETFs approved for listing in the United States. However, the latest survey of retail investors by Deutsche Bank showed that more than one-third of retail investors believe that Bitcoin will If it falls below $20,000 before the end of this year, 42% of respondents even expect Bitcoin to disappear in the future.
(Previous summary: Currency Market Short Commentary “BTC returned to 42,000 mg! After the ETF was approved, altcoins’ market share plummeted, and Bitcoin returned to 49.8%)
(Background supplement: Wall Street’s revolt” Vanguard bans customers from trading Bitcoin spot ETFs: BTC is an immature asset with no intrinsic economic value)

After 11 Bitcoin spot ETFs including BlackRock were approved by the U.S. Securities and Exchange Commission (SEC) for listing earlier this month, Deutsche Bank conducted a latest survey of 2,000 retail investors in the United States, the United Kingdom and Europe, asking What they think about Bitcoin’s trend.

However, the investigationresultIt shows that more than one-third of retail respondents expect Bitcoin to fall below $20,000 by the end of this year, and only 15% of retail respondents expect the price of Bitcoin to reach $4 by the end of this year. Between US$10,000 and US$75,000.

It is worth noting that more respondents believe that Bitcoin will disappear in the future rather than continue to exist. 39% of respondents believe that Bitcoin will continue to exist in the next few years, but as many as 42% of respondents believe that Bitcoin will continue to exist in the next few years. “Bitcoin is expected to disappear.”

Deutsche Bank said that the cryptocurrency winter may not be over yet, because more than half of the respondents expressed concern that Bitcoin may collapse within the next two years. This pessimism may be related to past thunderous events, such as the collapse of FTX and the collapse of Terra. Etc., the United States’ continued regulatory crackdown on cryptocurrencies is also seen as a threat.

Deutsche Bank added that the survey also found that retail investors lack understanding of cryptocurrencies, with up to two-thirds of respondents having little or no understanding of cryptocurrencies.

Institutional investors are optimistic

Compared with the pessimistic attitude of retail investors towards Bitcoin, institutional investors are very different. The founder of Ark Investment, known as the “Female Stock Goddess”, boldly predicted earlier this month that with the SEC’s approval of the Bitcoin spot ETF, The basic price of Bitcoin will reach US$600,000, and in a bull market situation, it will even reach US$1.5 million in 2030.

Tom Lee, founder of Fundstrat and a well-known Wall Street analyst known as the “Bitcoin Bull”, predicts that the price of Bitcoin may reach US$100,000 or US$150,000 in the next 12 months, and due to the deflationary nature of Bitcoin And with the buying demand brought by ETFs, Bitcoin may even jump to $500,000 in the next 5 years.

Further reading:Wall Street Bull Tom Lee: Bitcoin is expected to reach $150,000 by the end of the year and will rise tenfold in the next five years!

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2024-01-28 12:41:26
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