The king of cryptocurrency has lost close to 60% of its value in a few of months. The same is true of Ethereum. This only serves as evidence of the difficult time presently affecting the crypto-monnaie industry. Even though these assets have recently resumed their rise cautiously, a survey of Wall Street investors shows that the time is not yet favorable for a rise in the price of cryptocurrencies.
Wall Street will continue to decline.
A few days ago, the MLIV Pulse Survey Institute conducted a survey of 950 Wall Street investors. What level would Bitcoin reach in the first place was the question.
It was a closed-ended question because the respondents had to choose between two amounts: $10,000 and $30,000 The exchange rate for Bitcoin at that time was around $20,000 USD. Unfortunately, close to 60% of those who took part in the survey chose the scandalous side. According to them, the most likely scenario is for bitcoin to drop to $10,000 before perhaps rising again.
Coin July 2022, MLIV Pulse Survey
The following query was posed to the respondents: "At what level will bitcoin be traded first? 10k$ ou 30k$ ». Source: Pulse MLIV survey conducted from July 5–8.
This survey shows the dark period that has been affecting cryptocurrencies in general and bitcoin in particular for a while. The exchanges appear to be stalling and confidence is at an all-time low. This has already destroyed many businesses that were entirely based on cryptocurrencies. Some people haven't hesitated to admit failure.
You may recall that a year ago, the price of one bitcoin reached a record high of $68,000. It fell below 20,000 in May and June. At this price, bitcoin appears to be stabilizing right now. What will happen next? A slide or
Does Bitcoin still hold this safe and secure value despite the cries of its defenders? Given the victims that are made every time the money falls, this still needs to be shown.
According to the findings of a survey conducted by the MLIV Pulse Survey Institute, 18% of Wall Street investors believe that cryptocurrencies are worthless. Of the 950 people, 32% believe that money will continue to exist, although they are still unsure. 23 percent of those most recent made investments at the time. Finally, 26 percent of surveys indicated that cryptocurrencies would shape the future of finance.
Another interesting finding from the results is that the majority of professional investors believe that sector regulation would be ideal for the industry. This should assist in gaining the trust of many consumers and creating efficient payment methods. For them, central banks and the government may help bitcoin and other cryptocurrencies reach a ceiling.