Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse.
The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Forty percent saw it going the other way. Bitcoin fell 2.8% to $20,390 on Monday morning in London.
Big Drop
Investors think Bitcoin is heading lower
Respondents were asked: "Which level will Bitcoin trade at first? $10k or $30k"
The lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets.
Some $2 trillion has vanished from the market value of cryptocurrencies since late last year, according to data compiled by CoinGecko.
Retail investors were more apprehensive about cryptocurrencies than their...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...