Bitcoin more likely to fall to $10,000 than rise to $30,000, survey

The price of Bitcoin is more likely to drop to $10,000 than jump to $30,000.

The biggest cryptocurrency will probably cut its current value of $20,372 by about half rather than surge, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey, Bloomberg reported. The rest saw it climbing back. 

28% of overall respondents were very confident that crypto is the future of finance, while 20% said they’re worthless.

Crypto has suffered a sharp crash recently that has sent the prices of major cryptocurrencies plunging. 

Bitcoin is down over 55 per cent for the year and tumbled about 70 per cent from its all time high of near $69,000 in November last year. The crypto market cap has fallen from $3 trillion last year to less than $1 trillion now.

Bitcoin has not traded as low as $20,000 since September 2020.