Consumer confidence levels in cryptocurrencies are increasing

Consumer confidence levels in

cryptocurrencies are increasing

Consumers in cryptocurrencies

A recent study from Deutsche Bank indicates high levels of consumer confidence in

 cryptocurrencies, especially bitcoin, reflecting the evolution of 

sentiment despite persistent tension due to volatile prices.

The new study showed that

consumer doubts about bitcoin have fallen slightly, although less than a third of

survey respondents expect a sharp fall in price by the end of 2024.

Demo :

The study, published on April 8 :

drew the feedback of more than 3,600 consumers. Slightly more than half (52%)

agreed that cryptocurrencies in general would be an "important asset class

and financial transaction method" in the future.

Deutsche Bank conducted a similar survey in September 2023

and less than 40% of participants showed confidence in cryptocurrencies.

The number of participants seeing cryptocurrencies as a mere "temporary

phenomenon that will eventually disappear"

decreased to less than 1% according to the survey.

With regard to bitcoin :

the study looked at the price in the light of the upcoming split event. Deutsche

 Bank analysts expected price support through regulation, central bank price cuts

and the U.S. Securities and Exchange Commission's (SEC)

approval of an Ethereum Bitcoin trading fund.

A third of survey respondents say they expect bitcoin to fall below $20,000

by the end of 2024, compared with 35% in February and 36% in January.

However

1. only 10% of participants
2. expect bitcoin to exceed $75,000
3. by the end of the year.

This survey follows :

• the significant activity that bitcoin has seen since the beginning of 2024

• with the Securities and Exchange Commission approving in January

• the first bitcoin ETFs in the United States, attracting a daily flow of

up to $1 billion on March 12.

In mid-March :

the cryptocurrency rose to an all-time high of $73,794 and is expected to rise

 further, with estimates of up to 160% after the split, meaning it could reach

$150,000, according to some analysts.

The partition is expected to occur in mid-April, with many forecasts being

settled on 20 April. The event makes some analysts optimistic about next year's

cryptocurrency, citing generally rising demand

and major economic factors driving prices.