Although Bitcoin has been experiencing consecutive declines lately, investors believe that BTC and cryptocurrencies are here to stay. However, they expect a decline in BTC in the short term.
According to Coindesk, a recent survey conducted by Deutsche Bank revealed the expectations of US consumers regarding Bitcoin, cryptocurrencies and stablecoins.
Less than 1% of respondents said they viewed Bitcoin as a fad, according to a Deutsche Bank survey, a figure that represents a sharp decline from previous years.
More than half of the respondents said they see crypto as an important asset and payment method, while 65% said they believe cryptocurrencies can replace cash.
However, the survey results showed that the situation is mixed for Bitcoin, as a third of the respondents said they expect the price of Bitcoin to remain below $60,000 by the end of 2024.
Only 12-14% of respondents believe that BTC will surpass $70,000 by the end of the year, while 40% of respondents expect BTC to rise in the coming years and 38% expect it to disappear completely.
The survey results finally revealed that stablecoins are also facing uncertainty. 42% of the participants predicted that stablecoins will disappear. In contrast, only 18% of the participants stated that they expect stablecoins to develop.
*This is not investment advice.