Deutsche Bank conducted a survey of more than 3,600 of the bank's clients from the US, UK and EU countries. According to the survey, only 10% of respondents believe that the price of bitcoin will exceed $75,000 by the end of 2024.
According to a survey conducted by Deutsche Bank, Germany's largest financial conglomerate by number of employees and assets, a third of participants believe bitcoin will be worth less than $20,000 by next year. 38% of respondents suggested bitcoin will disappear altogether. 15% assume the first cryptocurrency will trade in a range above $40,000 but below $75,000. Less than 1% of respondents called bitcoin speculation, and are confident that it will disappear soon.
What needs to be understood?
It is important to realize that the survey was not conducted among ordinary German residents. It was conducted among their clients, including foreign clients. Otherwise, the results would be even worse.
Even among survey participants who are at least well-versed in personal finance, there is a high percentage of those who have little understanding of bitcoin.
how else to explain that more than a third of respondents believe that bitcoin will disappear altogether. In layman's terms, it will become worth 0.01$ or so. A trifle, dust, nothing at all.
That is, none of these people has not thought that at a price of 0.01$ for 1 BTC, the total capitalization of bitcoin will be equal to $200,000. And perhaps every 3-4 Deutsche Bank customers could personally buy all 19 million BTCs
Only 10% believe that by the end of the year bitcoin will be worth more than $75,000. But! That's only a 5-10% increase from current levels, after all. Perhaps most Deutsche Bank customers simply don't know how much bitcoin is worth at the moment.
What does this tell us? Only that there are still a huge number of investors in the world who do not even think about investing in cryptocurrencies. But 10 years ago, there were 10 times more such investors. Every year, more and more people come to the cryptocurrency market. Some of them, want to protect themselves from inflation, others want to diversify their assets. Still others simply can no longer watch as BTC, after every halving, continues to update the highs.
Sooner or later, many of these investors will start buying bitcoin, shifting the supply/demand balance towards the upside.
Especially against the backdrop of Deutsche Bank's commentary below.
Deutsche Bank emphasized that the number of customers who regard bitcoin and other virtual assets with distrust is gradually decreasing. One of the reasons for the decrease in the number of skeptical users is indicated by the introduction of spot ETFs for bitcoin on the U.S. stock market.