American investors do not believe in stablecoins, but they do believe in cryptocurrency as such, according to Deutsche Bank, citing a survey of its clients (3,600 consumers in the US and Europe).
According to #DeutscheBank, less than 1% of US consumers called cryptocurrency a fashion trend. More than half of respondents already consider cryptocurrency an important asset class and payment method. And even 65% consider cryptocurrency a replacement for cash. A major shift in perception. However, with all this, the majority, more than 50%, are afraid of the collapse of the crypto market in the next two years.
However, for some reason, only 18% of respondents said they expect stablecoins to prosper, while 42% expect them to decline.
According to the study, sentiment around the prospects for BTC is not positive. A third of consumers predict the price of#BTCwill be below $60,000 by the end of 2024. 12-14% expect BTC to rise above $70,000.
Should we take such surveys seriously? Our opinion is yes, but not in terms of price expectations, but in terms of perception of certain assets. Cryptocurrency is becoming established in people's minds not as a freak trend, but as a full-fledged (albeit volatile) asset class.
Interestingly, Deutsche Bank Research analysts recently stated that they expect the collapse of most stablecoins.
As for expectations for#BTCprices, let us recall that at the end of January 2024, when the BTC rate dropped to $39,000, participants in exactly the same survey were extremely pessimistic about Bitcoin and predicted that it would fall below $20,000 by January 2025. And although there are still four months until January, their forecast is unlikely to come true. And if (suddenly) it does come true, then the survey participants clearly did not expect that this path would be paved through a new ATH at $73,000.
Any survey, any expert - can be wrong. Trading and investments are not the industries where there are "eternal icons".
