Stock market experts: Bitcoin falls to $10,000

Bitcoin falls to $10,000. That’s what the majority of the brokers surveyed said. And NFT is not suitable as an investment.

The business news service Bloomberg has evaluated a survey of Wall Street experts and small investors. The 950 stockbrokers surveyed were asked to rate the future of cryptocurrencies like Bitcoin.

Price target: $10,000

One bitcoin is currently worth less than $20,000. In the last few months, bitcoin has been steadily declining in value. But how is the Bitcoin price developing? The majority of stockbrokers surveyed by Bloomberg – 60 percent of those surveyed said so – expect a further downward trend down to $ 10,000. Only 40 percent believe that the Bitcoin price could make it back to $30,000. Bitcoin was worth that much in May 2022.

Bitcoin: General assessment

Opinions differ on the general assessment of bitcoin. The stock market professionals trust Bitcoin more than small investors do. Because 24 percent of retail investors describe cryptocurrencies as “garbage”. Only 18 percent of professional investors share this negative assessment. The majority of investors fall somewhere between “skeptical, but open to it” and “skeptical, but still involved”. Only 23 percent of retail investors and 26 percent of stock market professionals see cryptocurrencies as “the future”.

However, Bitcoin and/or Ether will still be the leading cryptocurrencies in five years. That is the assumption of the majority of respondents. However, most of the respondents also assume that central bank digital currencies will play a key role.

NFT is not suitable as an investment

While opinions differ on cryptocurrencies, there is broad agreement when it comes to evaluating NFT (“Nonfungible tokens”): It’s just art or a status symbol, but not an investment. Only 9 percent of respondents see NFTs as an investment.

There has been a lot of hype about NFTs lately, here are some well-known examples:

From 1992: The world’s first text message achieves 107,000 euros at auction

The world’s first smiley face will be auctioned – you can bid here

Winamp: Original skin will be auctioned as NFT

NFT: FAQ on the new crypto hype for digital art

Fat finger mistake: 250,000 euro NFT sold at a ridiculous price

NFT madness: 100,000 euros for a pixel image from a Twitch streamer

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