A survey made by Deutsche Bank in a recent study showed bearish sentiment on Bitcoin’s future price among its participants as many predicted it to go down below $20, 00 This negative mood unfolds against a background of price volatility for the cryptocurrency.
The survey showed regional disparities in the anticipated price of Bitcoin, where respondents from the USA were most pessimistic. Eurozone participants presented slightly more optimism, while UK expectations were shown to be spread evenly across the entire price range.
Bitcoin tanked today by a significant percentage, falling to an intraday low of $3949.65 These drops are mostly caused by huge ETF Bitcoins liquidation, in particular the Grayscale Bitcoin trust which had a record $640 million redemption in one day.
Although a slight recovery has been noticed as Bitcoin is currently trading at $40,032 the Deutsche Bank survey hints at another trying year for virtual money.