Wall Street investors shared their feelings on the evolution of the Bitcoin and the crypto market.
Wall Street is rather pessimistic about the evolution of the value of Bitcoin, according to a survey conducted by the MLIV Pulse Survey institute among 950 investors.
Bitcoin: a downward trend?
At the question “Which level will Bitcoin reach first?”, the respondents had the choice between two answers: 10,000 and 30,000 dollars. 60% of investors opted for the disaster scenario, namely Bitcoin that would eventually drop to $10,000.
One more proof if needed that the market’s confidence in cryptocurrencies is completely at half mast. As of this writing, Bitcoin is trading around $20,445. The price has recently plunged again having regained ardor for a few days following the plunge observed at the end of June and the beginning of July, with several passages under the symbolic mark of 20,000 dollars.
As a reminder, Bitcoin had exceeded $45,000 in late March and early April, before a first crash in May, followed by a second sharp drop in June. Less than a year ago, in November 2021, Bitcoin broke its record by exceeding $68,000.
What if central banks got involved?
According to the results of the same survey, 18% of professional investors believe that cryptocurrencies are worthless, 32% of them remain open-minded but skeptical, 23% are skeptical but have invested anyway, and 26% believe that cryptocurrencies represent the future of finance.
The majority of respondents would welcome the introduction of regulation by governments. According to them, such a measure would make it possible to regain consumer confidence and allow the development of effective payment systems, while Bitcoin and other crypto remain today above all speculative assets.
Finally, investors believe that Bitcoin and Ethereum are likely to remain dominant networks in the next five years, although they anticipate that central bank digital currencies will also play a key role in the sector.
Source : Bloomberg
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