- A new study by Deutsche Bank shows that consumers are becoming more positive towards crypto, with 40% expecting Bitcoin to thrive in the coming years.
- Over 50% of people expect another major crypto collapse by 2026, and 38% believe Bitcoin will disappear in the coming years.
- One-third of clients surveyed by Deutsche Bank believe that Bitcoin’s price will be below $20,000 by the end of the year, while 10% expect it to exceed $75,000 in the same timeframe.
A new survey from Deutsche Bank shows that consumers are becoming more receptive to cryptocurrencies, even after the dramatic ups and downs of the past year. This report provides insight into how everyday investors view crypto assets amid regulatory uncertainty.
Consumers See Crypto as Here to Stay
The survey found that 40% of respondents expect Bitcoin to thrive long-term, while less than 1% see crypto as a passing fad. This suggests many consumers believe digital assets are here to stay, despite market volatility.
Expectations for Another Crypto Winter
Over half of those surveyed anticipate another major crypto market crash by 2026. Additionally, 38% think Bitcoin itself may eventually disappear. These bearish sentiments likely stem from recent crypto catastrophes like the TerraUSD stablecoin collapse and FTX exchange implosion.
Divided Views on Bitcoin’s Price Trajectory
Respondents held conflicting opinions on where Bitcoin’s price is headed this year. While one-third think it will fall below $20,000, 10% expect it to top $75,000. This divergence shows a lack of consensus around crypto’s near-term trajectory.
Wavering Views on Crypto’s Role as an Asset
The survey highlighted confusion around whether crypto should be considered a currency, commodity, or investment asset. For example, 78% see it as a commodity while 74% view it as a gold-like store of value. Regulators continue to grapple with crypto’s complex nature.
Minimal Public Understanding of Crypto Overall
Perhaps most notably, two-thirds of respondents admitted to having little or no understanding of cryptocurrencies. This highlights the critical need for crypto education, especially after a turbulent year for the industry.
Key Takeaways
While consumers are growing more open to crypto, conflicting opinions remain on factors like Bitcoin’s price and crypto’s asset classification. Major knowledge gaps also persist. However, the public does seem to believe blockchain technology and digital assets are here for the long haul despite market volatility.
