Consumer skepticism towards Bitcoin appears to have diminished, but less than a third of respondents expect a sharp price decline by the end of 2024, according to the latest survey by Deutsche Bank. More than 3,600 consumers participated in the survey, and 52% of respondents believe cryptocurrencies will be an important asset class in the future. In the survey conducted in September 2023, this rate was below 40%, and the proportion of those who saw cryptocurrency as a temporary fad dropped below 1% in the last survey.

Investor Expectations and Price Forecasts

Deutsche Bank analysts predict that the Bitcoin price will be supported by factors such as regulations, central bank interest rate cuts and Ethereum exchange-traded fund approval from the SEC. However, some of the participants think that Bitcoin will fall below $20,000 by the end of 2024.

Major Developments and Halving Effect

On the other hand, only 10% expect Bitcoin to surpass $75,000 by the end of the year. This survey was conducted after the SEC approved the first US-based spot Bitcoin ETF and the cryptocurrency hit an all-time high. Some analysts predict that Bitcoin could reach $150,000, an increase of up to 160% after the halving event.

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