Deutsche Bank, a German multinational investment banking giant, cryptocurrency released a survey showing a shift in attitudes towards their units. According to Reuters, the Frankfurt-based banking giant surveyed more than 3,600 consumers in the United States.
The results show that cryptocurrencies are increasingly accepted, with more than half of respondents (around 52%) seeing them as a “major asset class and method of payment transactions” for the future, marking a 12% increase compared to figures in September 2023 .
However, the survey also highlights a cautious feeling among many respondents; 30% BitcoinIt expects the price of to fall below $20,000 by the end of 2024. However, this group has decreased slightly since January.
One notable finding is the decreasing belief that cryptocurrencies are just a temporary trend. According to the report, less than 1% of respondents now hold this view. This shows that crypto is increasingly accepted as a permanent financial instrument. Despite this, only 10% of respondents expect Bitcoin to surpass $75,000 by the end of the year.
As Bitcoin approaches its fourth halving event, in which miner rewards are halved, there is speculation about its potential impact on prices. Historically, Bitcoin has experienced price declines in the first 90 days following halving events. But some analysts suggest the current landscape may be different, citing new capital inflows through spot Bitcoin exchange-traded funds (ETFs) as a potential game changer.
