Fun

Levels of consumer trust in crypto increasing: Report

News Feed - 2024-04-09 11:04:56

Savannah Fortis9 hours agoLevels of consumer trust in crypto increasing: ReportConsumer trust in cryptocurrencies, notably Bitcoin, sees an uptick according to a recent Deutsche Bank survey, signaling evolving sentiments amid lingering concerns over price volatility.1691 Total views13 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksA new Deutsche Bank survey revealed that consumer skepticism about Bitcoin has fallen slightly, although less than a third of survey respondents still expect a sharp price drop by the end of 2024.


The survey, published on April 8, polled over 3,600 consumers. Slightly more than half (52%) agree that cryptocurrencies as a whole will be an “important asset class and method of payment transactions” in the future.


A similar survey was conducted by Deutsche Bank in September 2023, which showed less than 40% confidence.


The amount of respondents who consider crypto to just be a “fad that will eventually fade” has now dropped to less than 1%, according to the survey.


The survey also looked at the price of Bitcoin (BTC) in light of the upcoming halving. Deutsche Bank analysts said they expect the price to be supported by regulation, central bank rate cuts and anticipation of a spot Ethereum exchange-traded fund (ETF) approval from the United States Securities and Exchange Commission (SEC).


Related:10 days until halving: Bitcoin mining profitability won’t necessarily fall


A third of the survey participants said they expect Bitcoin to dip below the $20,000 price point by the end of 2024. This figure compares to 35% in February and 36% in January.


However, only 10% expect Bitcoin to surpass $75,000 by year-end.


This survey comes after much activity surrounding Bitcoin since the beginning of 2024. In January, the SEC approved the first U.S.-based spot Bitcoin ETFs, which pulled in a record $1 billion daily net inflow on March 12. 


In mid-March, the cryptocurrency hit a new $73,794 all-time high and is anticipated to spike even further, with some estimates as high as a 160% increase after the halving, which means it could hit the $150,000 mark, according to some analysts.


The halving is anticipated to occur in mid-April, with many predictions settling on April 20. This event is causing some analysts to take a bullish stance on the cryptocurrency for the year ahead, citing the heightened overall demand and other macroeconomic factors driving the price.


Magazine:Memecoins make millionaires, Terraform and Do Kwon liable for fraud, and more: Hodler’s Digest, March 31 – April 6# Bitcoin# Cryptocurrencies# Bitcoin Price# Survey# Bitcoin CommunityAdd reaction

News Feed

Report: South Korean National Assembly to Pass Digital Asset Law in April
Report: South Korean National Assembly to Pass Digital Asset Law in April After several failed attempts in the past, the South Korean National Assembly is now expected to pass its
Stacks active accounts reach record high amid growing interest in Bitcoin DeFi
Zoltan Vardai11 hours agoStacks active accounts reach record high amid growing interest in Bitcoin DeFiThe growing interest in Runes and Bitcoin DeFi will drive more activity to layer-2 networks, according to Stacks’ p
IT Specialist Caught Mining Cryptocurrency at Police Headquarters in Poland
IT Specialist Caught Mining Cryptocurrency at Police Headquarters in Poland Polish police have uncovered a secret crypto mining operation at their headquarters i
Crypto Exchange Binance Receives Approval in Bahrain — Plans to Become Regulated, Centralized Worldwide
Crypto Exchange Binance Receives Approval in Bahrain — Plans to Become Regulated, Centralized Worldwide Binance has received in-principle approval from the Central Bank of Bahrai
Jesse Coghlan8 minutes agoPink, Pussy, Venom, Inferno — Drainers coming for a crypto wallet near youCrypto wallet drainers, or sweepers, are malicious smart contracts that can quickly empty a crypto wallet of its funds
SUI Cloud Zones Tell A Story — And The Next Chapter Could Be Parabolic
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Crypto Exchange Bitzlato Restores Access to User Funds
Crypto Exchange Bitzlato Restores Access to User Funds Russia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers.
Report: Blockchain Patents ‘Skyrocket’ in 2020, Alibaba Owns the Most Crypto Patents
Report: Blockchain Patents "Skyrocket" in 2020, Alibaba Owns the Most Crypto PatentsA study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent hol
Bitcoin ‘cascading long squeeze’ to blame for slump to $60K
Ciaran Lyons3 hours agoBitcoin ‘cascading long squeeze’ to blame for slump to $60KAn increasing number of traders entering new long positions was the “fuel” behind Bitcoin’s slump to $60,000, according to Bitco
Invesco Strategist Warns the Fed Is ‘Playing a Dangerous Game’ That Could Lead to ‘Significant Recession’
Invesco Strategist Warns the Fed Is "Playing a Dangerous Game" That Could Lead to "Significant Recession" The chief global market strategist at Invesco, a global investment firm wi
Helen Partz14 hours agoBitstamp’s departure from Canada is ‘timing issue,’ says CEOBitstamp’s decision to discontinue operations in Canada is “primarily a timing issue” related to the firm’s expansion prior
How to Watch Mark Zuckerberg’s Grilling in Congress Today
Facebook CEO and founder Mark Zuckerberg will be facing a grilling from lawmakers in Congress at 14:00 UTC (10 a.m. local time) today. In his testimony before the House of Represent