Bitcoin (BTC) is more likely to drop $ 10,000 in price before you get that amount, new research shows

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The latest MLIV Pulse Survey of 950 professional investors shows that 60% of respondents believe Bitcoin will reach $ 10,000 per coin faster than it reaches $ 30,000.

Important points

• A new survey of 950 professional Wall Street investors finds a bearish outlook for Bitcoin. The latest MLIV Pulse Survey shows that 60% of participants say that Bitcoin is more likely to fall to $ 10,000 per coin before it reaches $ 30,000.
• At the time of going to press, BTC is priced at $ 20,574 per coin, which is a 70% decrease from the top price of $ 68,879 logged in November 2021 according to CoinMarketCap.

On Sunday, Bloomberg reported that a majority of surveyed financial analysts and investors are bearish on the short-term price outlook for Bitcoin (BTC). It is reported that the latest MLIV Pulse Survey was conducted from July 5 to July 8, 2022 – targeting 950 professional fund managers and investors.

The results show that 60% of respondents believe that the price of a single BTC cryptocurrency is more likely to fall to a price of $ 10,000 faster than it climbs to the price of $ 30,000 per coin. It is worth noting that the Bitcoin price has not been as low as $ 10,000 since September 2020.

At the time of writing, Bitcoin was priced at $ 20,574 across cryptocurrency exchanges, representing a 70% discount from the highest price point of $ 68,879 recorded in November 2021. Bitcoin fell 45% last month, marking the worst monthly fall. since it was founded in 2008, while the total crypto sector has lost more than $ 2 trillion in value since it set a record high last fall.

Almost 1 in 5 professional investors say that all cryptocurrencies are “rubbish”

The MLIV Pulse Survey Bitcoin also had some qualitative findings from professional investors regarding the cryptocurrency category in general. For example, participants were asked the question “In relation to cryptocurrencies, which of the following best describes your attitude”, and here was the overview of their answers:

• Cryptocurrencies are rubbish: 18%
• Open minded but skeptical: 32%
• Skeptical, but still involved: 23%
• Cryptocurrencies are the future: 26%
• Bitcoin Maximum: 2%

Although no one can predict the future price of an asset with security, these results certainly show that the cryptocurrency asset class can be both polarizing and exciting.