Investors: Bitcoin Likely to Drop to $10,000

Bitcoin is more likely to fall to $10,000, halving its value, rather than hitting $30,000 again, according to 60% of 950 investors surveyed by MLIV Pulse, collecting a note from Bloomberg.

According to Jared Madfes, a partner at venture capital firm Tribe Capital, expectations for a further decline in bitcoin reflect “people’s ingrained fear in the market.” “It is very easy to feel fear right now, not just in cryptocurrencies, but in the world in general,” he added.

On the morning of Monday, July 11, the price of the main cryptocurrency was at $20,600, which is a decrease of 1.14% over the previous day.

In addition, a Bloomberg note notes that about 28% of respondents expressed high confidence that digital currencies are the future, compared to 20% who said they were worthless.

Along these lines, most participants were in favor of governments stepping up cryptocurrency regulations, as this action could improve investor confidence.

On the other hand, most respondents viewed NFTs as mere technical projects or status tokens, with only 9% seeing them as an investment opportunity.

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