United

Solana

Bitcoin

Epic

Crypto adoption continues to grow globally with more consumers and traditional finance investors leaning toward Bitcoin. A new Deutsche Bank survey shows users becoming less skeptical of Bitcoin (BTC) and other crypto assets.&nbsp; 
This comes amid growing reports of increased <a href="https://coingape.com/why-banks-and-financial-institutions-adopting-blockchain-technology/" target="_blank" rel="noopener">crypto adoption</a> and awareness in many jurisdictions. Deutsche Bank surveyed 3,600 consumers with over 50% projecting the importance of the asset.&nbsp; 
<h2 id="strong-52-of-consumers-back-bitcoin-strong">52% of Consumers Back Bitcoin&nbsp;</h2> 
According to the report, 52% of participants viewed Bitcoin and cryptocurrencies as an important asset class and a method of transaction in the future. This is a huge improvement from previous numbers and shows wider growth and acceptance in the cryptocurrency market.&nbsp; 
In 2023, less than 40% of participants saw optimism of the asset class. Despite this rise in general acceptance, only 10% of respondents project the price of Bitcoin to soar above $75,000 by the end of the year. About a third of consumers expect the price to drop below $20,000 by the end of the year.&nbsp; 
In previous months, respondents with these bearish projections stood at 35% and 36% in January and February respectively. This figure remains shocking because of the recent institutional inflow in the market sparked by the anticipation and subsequent approval of spot <a href="https://coingape.com/bitcoin-etfs-dominate-us-market-in-q1-2024/" target="_blank" rel="noopener">Bitcoin ETFs</a> by the United States Securities and Exchange Commission (SEC).&nbsp; 
<h2 id="strong-analysts-negate-deutsche-bank-s-participants-strong">Analysts Negate Deutsche Bank’s Participants</h2> 
This year, Bitcoin price soared above $72,000 and hit an all-time high following renewed institutional appetite in the market. Most analysts feel the price will not go lower as expected by a third of participants. This is because of <a href="https://coingape.com/bitcoin-etf-regain-momentum-with-484m-inflows-whats-next-for-btc-price/" target="_blank" rel="noopener">surging inflows</a> in the space and the halving event which is predicted to usher in another run.&nbsp; 
The wider acceptance of Bitcoin and other crypto assets as seen in Deutsche Bank’s survey comes as investors view the ETF as a form of acceptance and regulation in the industry.&nbsp; 
Meanwhile, only 1% of respondents view crypto as a fad to fade away with time. 
Also Read: <a href="https://coingape.com/can-solana-sol-shine-again-expert-shares-epic-prediction/" target="_blank" rel="noopener">Can Solana (SOL) Shine Again? Expert Shares Epic Prediction</a> 
The post <a href="https://coingape.com/over-50-of-consumers-see-bitcoin-as-an-important-asset-class-deutsche-bank/">Over 50% of Consumers See Bitcoin As an Important Asset Class: Deutsche Bank</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Over 50% of Consumers See Bitcoin As an Important Asset Class: Deutsche Bank

Inhoudsopgave

Coingape News Media

Andere artikelen gepubliceerd op 8 apr 2024

DeFi Platform dYdX Grapples with Block Production Halt Post-Upgrade

Ripple's XRP Faces SEC Legal Challenges

BlackRock's Bitcoin ETF Nearing $20 Billion in Assets

Navigating Image Copyright in the Age of AI: A Journalist’s Guide

Is Bitcoin’s run to $73K sustainable? $40M in liquidations suggests…

Ethereum Price Prediction: ETH Price Surges Rapidly; What Next?

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!