Bitcoin is currently far from its all-time high of over $65,000. On Friday, the price of the oldest and best-known cryptocurrency was just over $20,000 – and stockbrokers are convinced it must continue to go downhill.
In a survey by US business intelligence service Bloomberg, 60 percent of the 950 investors and small investors surveyed on Wall Street in New York were confident that the price of Bitcoin will continue to fall and halve to $10,000. Only 40 percent believe the cryptocurrency will bounce back to $30,000 in the near future.
However, opinions differ on whether or not cryptocurrencies are sustainable. About a quarter of those surveyed (26 percent of professional investors and 23 percent of retail investors) believe in the future of Bitcoin & Co.; this contrasts with 24 percent of retail investors and 18 percent of professional investors who view cryptocurrencies as total “junk”.
By contrast, according to Bloomberg, there is broad consensus on a niche in the market: non-fungible tokens, or NFT for short. The vast majority of those surveyed see the digital certificates of authenticity only as an art project or status symbol, only nine percent see it as an investment opportunity.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
