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Most Americans Turn Extremely Bearish on Bitcoin

Most Americans Turn Extremely Bearish on Bitcoin



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Alex Dovbnya

U.S. adults think that the largest cryptocurrency will be trading below the $12,000 in six months from now

According to a recent survey published by Morning Consult, U.S. adults believe that the price of Bitcoin, the world’s largest cryptocurrency, is set to drop to $11,500 within the next six months.

BTC
Image by morningconsult.com

The survey shows that the average American is turning more bearish on Bitcoin amid the collapse of the FTX exchange. In October, U.S. adults predicted that the price of the leading cryptocurrency would be able to remain above the $15,000 level.

When it comes to those survey participants who own cryptocurrencies, they are predictably more optimistic. Crypto holders are convinced that Bitcoin will be trading at the $17,500 level in six months.

The price of Bitcoin is down 76.00% from its all-time high of $69,044 which was achieved a few years ago.

Despite the fact that some analysts are saying that crypto is now dead following the implosion of the FTX empire, a bigger share of the survey respondents is convinced that crypto will still be around in ten years from now.

Twenty-one percent of U.S. adults still intend to purchase cryptocurrencies in December in spite of the ongoing crypto winter. There has been only a minor drop in purchase consideration compared to October.

Those survey participants who own crypto tend to view digital currencies as long-term investments.

Forty-two percent of U.S adults think that cryptocurrencies should be subjected to the same regulatory scrutiny as traditional finance or face even harsher rules.



Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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