Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Retail investors are more pessimistic about cryptocurrencies than professional investors, according to survey from MLIV Pulse .
- Majority of respondents by MLIV Pulse believes Bitcoin will drop to USD $10,000
- Fewer believe it will rise to USD $30,000 levels.
- Survey Shows How Pessimistic Many Investors Are
While some are optimistic about a rise in cryptocurrencies, others believe that they will fall further from the current prices. It should be remembered that, for example, Bitcoin, reached levels of almost USD $70,000 in November 2021, to reach current levels in the order of USD $20,000, as can be seen at CryptoMarkets.
According to a survey by MLIV Pulse among professional and retail investors, disseminated by Bloomberg, it is more likely that Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. fall to USD$10,000, reducing its value to about half of the current one, than to rise again to USD$30,000. This was the view of 60% of the 950 investors who responded to the latest survey by MLIV Pulse. Meanwhile, 40% believe it is going in the opposite direction and will increase. Meanwhile, according to CryptoMarkets between yesterday and today at 8:00 am, Bitcoin fell by 3.26%, with a current price of USD $20,518.69.
Respondents were asked: “At what level will Bitcoin trade first? USD $10k or $30k” and in the graph are the answers:
The lopsided prediction underscores how bearish investors have become, he says Bloomberg and adds that the responses are the result of the crypto industry’s “has been rocked by troubled lenders, collapsing currencies and the end of pandemic easy-money policies that fueled a speculative frenzy in financial markets.”
It highlights that some $2 trillion has disappeared from the market an area or arena, online or offline, in which commercial dealings are conducted. value of cryptocurrencies since the end of last year, according to charts from CoinGecko.
Retail investors more concerned
Another revelation from the survey is that retail investors were more concerned about cryptocurrencies than their institutional counterparts, with nearly a quarter stating that the asset class was junk. Professional investors were more open-minded towards digital assets.
But overall, this sector remains polarized: while about 28% of respondents overall expressed high confidence that cryptocurrencies are the future of finance, 20% said they are worthless.
Also, only 4% of retail investors and 2% of professional investors consider themselves openly maximalist of Bitcoin.
“It’s very easy to be afraid right now, not just in crypto, but in general in the world” said Jared Madfes, a partner at Tribe Capital capital is most commonly defined as the large sum of money you would use to invest. a venture capital firm. He said expectations of a further fall in Bitcoin reflect “the inherent fear of people in the market”.
The collapse of cryptocurrencies is also likely to put more pressure on governments to step up regulation of the industry. Such oversight is seen as positive by most respondents, as it could improve confidence and lead to greater acceptance among institutional and retail investors.
The government’s intervention is also likely to be welcomed by consumers affected by the collapse of TerraUSD and intermediaries in problems such as Celsius Network a network refers to all nodes in the operation of a blockchain at any given moment in time. and the corridor Voyager Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. Ltd.
¿Bitcoin o Ether?
Pero no se espera que las recientes caídas de precios, ni el desafío potencial de los bancos centrales, cambien significativamente la industria al destronar a los dos tokens dominantes, Bitcoin yEther. Most respondents anticipate that one of those two will still be a driving force in five years, even as a significant portion sees central bank digital currencies taking on a key role.
“Bitcoin is still driving much of the cryptoverse, while Ethereum a decentralized open-source blockchain with smart contracts functionality. is losing its lead.” said Ed Moya, senior market analyst at Oanda Corp. a forex broker.
What about NFTs?
As for the tokens no fungibles, NFT, the vast majority of respondents consider them to be just art projects or status symbols, and only 9% see them as an investment opportunity. Also, most respondents expect the next big breakthrough to be completely unrelated to cryptocurrencies, as NFTs, the next generation of the Internet known as web3, and other developments of Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. have little chance of triggering the next brake. yes.
“The next financial bubble when an asset is traded at a price exceeding that asset's intrinsic value. is always something different than the last bubble. so the majority is absolutely right on this one”, said Matt Maley, chief market strategist for Miller Tobacco + Co.
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