👉👉👉 Only 1% of consumers still think Bitcoin is a passing 'fad'

According to a recent Deutsche Bank survey cited by Reuters on April 8, Bitcoin and cryptocurrencies are no longer seen as a passing trend by the majority of consumers. Instead, they are increasingly viewed as integral components of the financial landscape, reflecting a significant shift in consumer sentiment.

The survey, conducted with 3,600 individuals, revealed a notable change in attitudes towards Bitcoin and #cryptocurrencies . Consumers now exhibit a balanced mix of cautious skepticism and optimism regarding their future in the financial market.

In March, 52% of respondents expressed belief that cryptocurrencies will evolve into an "important asset class and method of payment," a significant increase from less than 40% in September 2023. Conversely, only 1% of respondents believe that Bitcoin "will eventually fade away," down from 20% the previous year.

However, optimism regarding cryptocurrencies becoming the "dominant payment method" decreased to 5% from 20% in the previous year.

Central Bank Digital Currencies (CBDCs) were also examined, with 15% of respondents predicting their mainstream adoption while cryptocurrencies would maintain a minor role in the financial system. Additionally, approximately 25% of respondents believe cryptocurrencies are "here to stay but will never become mainstream."

Regarding price predictions, around 30% of respondents anticipate Bitcoin's price dipping below $20,000 by year-end, down from 35% in February and 36% in January. Meanwhile, 25% believe Bitcoin will be valued between $20,000 and $75,000 by year-end, with only 10% expecting its price to surpass $75,000.

Bitcoin hit a three-week high on April 8 after a decline from its all-time high in March. The surge is attributed to increasing interest in spot #BitcoinETFs and speculation on interest rate changes. Deutsche Bank analysts expect factors like the Bitcoin halving, regulatory updates, rate cuts, and potential approval of spot Ethereum ETFs to drive market momentum.

Source - cryptoslate.com