A recent survey shows that the public’s perception of Bitcoin’s future value is at a low in the wake of FTX’s high-profile collapse.
According to survey results published by Morning Consult in the wake of FTX’s bankruptcy, US adults are expecting Bitcoin’s price to fall to $11,500 within the next six months. The price prediction represents a drop of close to $5,600 in expected price from just one month ago, and more than $15,500 from price predictions made at the beginning of 2022.
The report argues that news of FTX’s collapse has “clearly shaken consumers’ faith” in Bitcoin, and even dampened expectations by crypto investors. While crypto holders polled in the survey were more optimistic with their price prediction, they still expect Bitcoin to rise only slightly within the next six months to a value of $17,500, which is the lowest value Morning Consult has captured in their surveys.
Despite the drop in consumer confidence, more US adults surveyed expect crypto to be around in 10 years compared to those who see the industry going away. Crypto investors in particular were overwhelmingly in the camp that crypto will survive into the next decade.
In addition, consumers were only slightly more hesitant to purchase crypto compared to polls prior to FTX’s collapse, with 21% of US adults saying they will buy crypto within the next month compared to 25% reporting the same in October.
Featured Image via Pixabay