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HomeBTCThe Majority Of Americans Have Become Quite Bearish About Bitcoin: Survey

The Majority Of Americans Have Become Quite Bearish About Bitcoin: Survey

According to a recent survey conducted and distributed by Morning Consult, people in the United States believe the price of Bitcoin, the world’s largest cryptocurrency, will fall to $11,500 within the next six months.

The results of the survey indicate that the average American is becoming more pessimistic about Bitcoin in the wake of the failure of the FTX exchange. Adults in the United States made the forecast in October that the price of the most prominent cryptocurrency will be able to maintain a level greater than $15,000.

It should come as no surprise that respondents with cryptocurrency holdings had a more positive outlook on the future of the industry. The owners of cryptocurrencies are certain that during the next six months, Bitcoin will be trading at a figure equivalent to $17,500. A few months ago, the price of Bitcoin reached an all-time high of $68,789.63, which has since been eclipsed by a decline of 76.00% in its value.

In spite of the fact that there are certain experts who are suggesting that cryptocurrency is now extinct as a result of the fall of the FTX empire, a greater percentage of the people who responded to the poll are confident that cryptocurrency will still be there in 10 years from now.

In spite of the crypto winter that is now taking place, 21 percent of individuals in the United States still plan to buy cryptocurrency in the month of December. When compared to October, there has only been a slight decrease in the number of those considering making a purchase.

Participants in the study who already hold cryptocurrency are more likely to think of it as an investment for the long run. Forty-two percent of people who live in the United States think that cryptocurrencies should be regulated as closely as traditional finance, or else they should have even stricter rules. 

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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