Deutsche Bank: Only 1% of consumers still believe Bitcoin will "ultimately die out"
TechFlow Selected TechFlow Selected
Deutsche Bank: Only 1% of consumers still believe Bitcoin will "ultimately die out"
BTC and crypto assets are gaining prominence, increasingly seen as an indispensable part of the financial system.
Navigating Web3 tides with focused insightsSource: cryptoslate
Compiled by: Blockchain Knight
According to a Reuters report on April 8 citing a Deutsche Bank survey, BTC and crypto assets are no longer seen by consumers as a fleeting "fad." The majority now consider them an integral part of the financial system.
The survey, which gathered feedback from 3,600 people, reveals a slow but clear shift in consumer sentiment toward BTC and crypto assets—cautious skepticism remains, yet there is growing optimism about their role in financial markets.
The results show that 52% of respondents believe crypto assets will become "a significant asset class and payment method" this March, up from less than 40% in the September 2023 survey.
Meanwhile, the proportion of "detractors" has dropped to a record low, with only 1% of respondents still believing BTC will "ultimately die out," down from 20% last year.
On the other hand, the share of respondents who believe crypto assets will become a "mainstream payment method" declined from 20% last year to 5%.
Central bank digital currencies (CBDCs) were also included in the survey, with 15% of respondents believing they will become mainstream, while crypto assets will remain secondary within the financial system.
Additionally, around 25% of respondents believe crypto assets "will continue to exist but never become mainstream."
Despite increasingly positive attitudes toward BTC, a significant portion of respondents still expect BTC prices to decline by year-end.
Approximately 30% of respondents believe BTC prices will fall below $20,000 by year-end, down from 35% in February and 36% in January.
At the same time, 25% of respondents expect the flagship crypto asset's value to range between $20,000 and $75,000 by year-end, while only 10% believe BTC prices will exceed $75,000.
BTC recently hit a three-week high on April 8, following weeks of negative trading performance, after traders took profits post-BTC's all-time high of $73,794 in March.
BTC's rebound coincides with rising enthusiasm for spot BTC ETFs and expectations of interest rate cuts.
Deutsche Bank analysts anticipate that the upcoming BTC halving, regulatory developments, rate cut expectations, and speculation surrounding SEC approval of a spot Ethereum ETF will continue driving the market higher in the coming weeks.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
