According to a recent survey by Deutsche Bank, consumers are becoming more receptive to cryptocurrencies, with 40% of them anticipating Bitcoin’s rise.
Stay in the know on crypto by frequently visiting Crypto News Today
In Q1 2024, consumers’ views on cryptocurrencies have improved, according to a recent survey conducted by German investment bank Deutsche Bank.
Spot Bitcoin ETFs were approved during this time, and the overall cryptomarket was rising. According to the report, this has led to 40% of respondents believing that Bitcoin will grow in the upcoming years and less than 1% believing that cryptocurrency is a fad.
CryptoCaster Quick Check:
Conversely, over 50% of respondents anticipate a significant decline in the cryptocurrency market by 2026, and 38% think Bitcoin will “disappear” in the upcoming years. This follows the highly visible demise of cryptocurrency exchange FTX and the collapse of cryptocurrency Terra.
Despite the fact that Bitcoin recently reached an all-time high, one-third of clients surveyed by Deutsche Bank think the cryptocurrency’s price will fall below $20,000 by year’s end. 10%, however, believe that Bitcoin will surpass $75,000 in the same amount of time—an increase of 8.7% since this writing.
The struggle to classify cryptocurrencies as an asset class and, thus, give it regulatory authority has accounted for a significant portion of the Securities and Exchange Commission of the United States’ (SEC) campaign against them. The SEC chair, Gary Gensler, has referred to cryptocurrencies as “highly speculative,” and SEC employee Bill Himan famously stated Ethereum isn’t a security.
In addition, it appears that clients of Deutsche Bank are unsure as well. 65 percent of survey participants consider cryptocurrency assets to be a cash substitute, 78 percent consider them to be a type of commodity, and 74 percent think it’s a store of value akin to gold (which isn’t a security).
It is improbable that the SEC’s decisions regarding asset class definitions are influenced by consumer sentiment. The comprehension of customers who have recently had their door to cryptocurrency opened by spot ETFs, however, is interesting to note.
The March Survey revealed that two-thirds of consumers have “no understanding” or “minimal understanding” of cryptocurrencies, which exacerbates the situation. putting the importance of education first for the cryptocurrency sector.
W
e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.
Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.
We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.
When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.
CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.
We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.
Thank you.
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
SOL – DLvdMu85dW6pZMhw2E4S3pp81qQQGpy5UcdTsFEFBu4b
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
