Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: sirty143 on April 13, 2024, 09:15:42 AM

Title: Deutsche Bank Survey: Over Half Expect Crypto to Become 'Important' Asset Class
Post by: sirty143 on April 13, 2024, 09:15:42 AM
Deutsche Bank Survey: Over Half Expect Crypto to Become 'Important' Asset Class and Payment Method

A new Deutsche Bank survey found that over half of respondents expect cryptocurrencies to become an important asset class and a method of payment. In addition, 10% of respondents expect the price of bitcoin to be above $75,000 by year-end. See more for yourself here (https://news.bitcoin.com/deutsche-bank-survey-over-half-expect-crypto-to-become-important-asset-class-and-payment-method/).

Your opinion is greatly appreciated.
Title: Re: Deutsche Bank Survey: Over Half Expect Crypto to Become 'Important' Asset Class
Post by: Don Pedro Dinero on April 13, 2024, 11:03:43 AM
Well, I think the conclusion of the survey is simply wrong. Cryptocurrencies are already a major asset class, currently about $2.57 Trillion. That puts them well ahead of the silver market cap, which is already an important market, the thing is that if we want to compare them with the total stock market or with the real estate market, for example, it seems to be small, but of course cryptocurrencies are already an important asset class today and it is not only seen by the numbers but also because they are increasingly occupying more and more space in the financial news.

On the other hand, I don't believe that they will become a payment method. Maybe one cryptocurrency out of the tens of thousands that exist will do so, but they are mainly investments, not means of exchange, and with CBDCs it will be even more difficult for them to become a means of exchange.
Title: Re: Deutsche Bank Survey: Over Half Expect Crypto to Become 'Important' Asset Class
Post by: Zed0X on April 13, 2024, 03:57:24 PM
This is from another source:

Quote from: https://www.reuters.com/markets/currencies/crypto-survey-shows-less-consumer-scepticism-third-expect-bitcoin-price-fall-2024-04-08/
BY THE NUMBERS

Deutsche Bank said it surveyed more than 3,600 consumers, with 52% of respondents saying cryptocurrencies will be an "important asset class and method of payment transactions" in future. Less than 40% said that when surveyed in September 2023.

A third of U.S. respondents expect bitcoin to drop below $20,000 by the end of 2024. This group is getting slightly smaller. It was 35% in February and 36% in January.

The number of people who think cryptocurrencies are "just a fad that will eventually fade" dropped to less than 1%.

Still, only 10% of respondents expect bitcoin to be above $75,000 by year-end.

A positive outlook but maybe because of the halving effect. Maybe those same people who responded will change their view once the market starts crashing in the next two years. It's not uncommon that they flip flop depending on the color of their portfolio ;D This is also one of the major reason why some regulators and hard-headed institutional investors continue to say that it's a bubble.
Title: Re: Deutsche Bank Survey: Over Half Expect Crypto to Become 'Important' Asset Class
Post by: Don Pedro Dinero on April 14, 2024, 09:51:01 AM
Quote from: Zed0X on April 13, 2024, 03:57:24 PM
A positive outlook but maybe because of the halving effect. Maybe those same people who responded will change their view once the market starts crashing in the next two years. It's not uncommon that they flip flop depending on the color of their portfolio ;D This is also one of the major reason why some regulators and hard-headed institutional investors continue to say that it's a bubble.

Well, for the sake of nuance, I would say that this could happen in a year's time, but you never know, maybe World War III starts now and everything falls apart. But yes, surely in a bear market, the responses would have been less optimistic, as you say. Anyway, I don't give the results of this survey much credibility for other reasons explained in my previous post.