While bitcoin is still struggling to take off, MLIV Pulse surveyed market investors to find out their bitcoin price projections. The majority of the latter were rather pessimistic, with 60% saying the cryptocurrency could still lose up to half of its current value. They also came out in favor of introducing regulation of the sector.
Trends reflecting inherent market fears
For a survey he conducted, MLIV Pulse collected the views of a panel consisting of 950 individual and institutional investors. It shows that only 40% of them believe in a rise in BTC prices towards $ 30,000, with the rest saying that the cryptocurrency will fall to $ 10,000. In addition, retail investors were much more pessimistic about the future of cryptocurrencies, almost 25% of the latter believe they are at risk of failure. Partner at venture capital firm Tribe Capital, Jared Madfes was not surprised by these trends.
” It is very easy to be scared right now, not only in crypto, but in the world at large. The prospect of another bitcoin crash reflects the underlying fear of people in the market “, he asserted. Indeed, the Fed’s intervention policy are events, the difficulties faced by crypto lending platforms and the collapse of Terra’s ecosystem that is far from reassuring investors. The latter would be moreover favorable for the intervention of regulators in the sector to have more guarantees.
Bitcoin and Ether will remain at the top despite the advent of CBDCs
Presented as competitors of cryptocurrencies, central bank digital currencies (CBDCs) are the subject of a number of development projects around the world. Due to the size government support could give them some market advantageinvestors have no worries about the status of bitcoin and ether.
They are convinced that there are two major cryptocurrencies on the market they will retain their leadership even if they inevitably lose ground for the benefit of the CBDCs. Their outlook for NFTs is far from optimistic, with only 9% of surveyed investors seeing them as an investment opportunity.
Despite the bearish outlook that emerged from the investor camp at the end of the MLIV Pulse survey, some big names in the sector are expecting a rebound in bitcoin. They include the CEO of Rockefeller International who is confident that cryptocurrency will follow the same trajectory as Amazon after the dotcom bubble.
Source: Bloomberg
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and express my pen information related to this ecosystem.
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