Deutsche Bank’s latest survey on Bitcoin has revealed a noteworthy shift in consumer sentiment towards the world’s leading cryptocurrency. While the survey results show that skepticism among consumers has decreased slightly, it still remains a cause for concern.

Interestingly, the survey found that less than one-third of the respondents believe that Bitcoin’s price will experience a sharp drop by the end of 2024. This finding is a positive sign for Bitcoin investors and enthusiasts who have been eagerly awaiting mainstream acceptance of the cryptocurrency.

According to a survey conducted on April 8th, which collected responses from more than 3,600 consumers, a slight majority of the participants (52%) expressed their belief that cryptocurrencies will become a crucial asset class and a widely accepted method of payment transactions in the future.

Deutsche Bank conducted a survey in September 2023 to measure the level of confidence in cryptocurrencies. The survey results showed that less than 40% of respondents felt confident about cryptocurrencies.

However, the survey also found that the number of people who believed that cryptocurrencies were just a passing fad had decreased to less than 1%.

In mid-March of this year, the value of the popular cryptocurrency reached an all-time high of $73,794. This was a significant milestone for the digital asset, as it had been steadily increasing in value over the past few years. However, it is anticipated that the price of the cryptocurrency will continue to spike even further.

One major factor contributing to this rise in value is the upcoming halving event. Essentially, the halving is a process that occurs every four years in which the rewards for mining new blocks of the cryptocurrency are cut in half. This helps to control the supply of the digital asset and prevent inflation.

Many analysts believe that the halving event will cause the price of the cryptocurrency to increase by a significant amount. In fact, some estimates predict a 160% increase following the halving. This means that the value of the cryptocurrency could potentially reach as high as $150,000, according to these projections.

Overall, the cryptocurrency market is a volatile and unpredictable space, and it is difficult to say for certain what will happen to the value of any given digital asset. However, based on the current trends and projections, it certainly seems like the future is bright for this particular cryptocurrency.

Also Read: South Korea to Introduce Stricter Guidelines for Cryptocurrency Listings – Blockmagic