Key Takeaways
- 52% of survey respondents see Bitcoin as an important future asset class and payment method.
- A third of U.S. respondents expect Bitcoin to drop below $20,000 by end of 2024.
- Bitcoin's resurgence attributed to ETF excitement and rate cut expectations.
A recent survey by Deutsche Bank indicates a shift in consumer attitudes towards Bitcoin.
While skepticism persists, there’s a notable increase in those who see it as a significant future asset class and payment method.
In September 2023, less than 40% of respondents held this view, which has now risen to 52%.
Price expectations and market trends
The survey also sheds light on price expectations, with a third of U.S. respondents predicting Bitcoin will fall below $20,000 by the end of 2024.
However, this group is slightly decreasing in size.
Interestingly, the belief that Bitcoin is a passing fad has dwindled to less than 1%, yet only 10% anticipate its value exceeding $75,000 by year-end.
Bitcoin’s resurgence and future prospects
Bitcoin’s recent surge to a three-week high and its recovery from a 2022 plunge have sparked renewed interest.
Analysts attribute this revival to excitement over spot Bitcoin ETFs and anticipation of rate cuts.
Despite some skepticism, Deutsche Bank analysts remain optimistic, expecting Bitcoin’s price to be buoyed by factors such as the upcoming Bitcoin halving and regulatory development.
