According to a recent survey by Deutsche Bank, skepticism towards Bitcoin among US consumers has slightly decreased. Despite this, there are still some who predict a significant drop in the value of the world’s largest cryptocurrency by market capitalization by the end of this year.
The survey, reported by Reuters, revealed that 52% of the 3,600 respondents believe that cryptocurrencies will become an important asset class and method of payment in the future, compared to less than 40% in the previous survey conducted in September.
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Additionally, 30% of American respondents expect Bitcoin prices to fall below $20,000 by the end of the year, while 35% and 36% said the same in February and January, respectively. Only 10% of respondents anticipate that Bitcoin prices will surpass $75,000 by the end of 2024.
It is also worth noting that Bitcoin reached a new record high in March, surpassing $73,800 and surpassing its previous record of $68,000.
This was due to a strong bullish trend in the first quarter of 2024, which was fueled by the approval of spot Bitcoin exchange-traded funds (ETFs) by the crypto community. After a sharp drop to around $65,000 last week, Bitcoin has since rebounded to $72,000 over the weekend.
What else?
In terms of cryptocurrencies in general, less than 1% of respondents believe that crypto and digital assets are just a temporary trend and will eventually disappear, indicating a more positive view of the emerging industry.
As the crypto industry closely monitors the halving, an event that reduces Bitcoin miners’ rewards and subsequently decreases the availability of new Bitcoins in the market, there is a mixed outlook on its impact on prices.
While many Bitcoiners believe that the cryptocurrency can reach new all-time highs, as it has in previous halvings, others remain skeptical.
This skepticism towards cryptocurrencies and Bitcoin has existed since the inception of the digital coin by Satoshi Nakamoto. Even traditional banking institutions, such as Goldman Sachs, have been vocal critics of crypto.
However, last week, the investment banking giant was added as an authorized participant in BlackRock’s spot Bitcoin ETF, signaling a shift in its views.
This follows a pattern of apparent turnarounds among some of the biggest critics of crypto, including former US President Donald Trump, who stated in mid-March that crypto is an alternative form of currency and admitted to having fun with Bitcoin at times. It is worth noting that over two years ago, he referred to Bitcoin as a scam.
Experts reveal next hot meme coin
In other news, cryptocurrencies such as Dogecoin, Shiba Inu, Pepe, dogwifhat, Bonk, and Floki have experienced significant success in the past month. Their profits have ranged from 100 to 500%, proving their strong performance since late February.
The value of older coins such as Dogecoin and Shiba Inu is currently approaching their all-time high. This indicates that despite their existence without a defined purpose for a considerable period of time, they are still performing strongly in the market.
However, there is a potential emergence of a new leading contender that could match or even surpass WIF’s performance in early 2024.
Lucky Boo: The Newcomer
Lucky Boo, a recently launched meme coin with a Crypto Lucky Charm concept, has the potential to outperform established coins such as WIF, Shiba Inu, and Dogecoin. Despite only starting its first pre-sale on Solana a few days ago, Lucky Boo has already gained significant attention due to its effective marketing strategies and one of the largest airdrops in the industry.
Lucky Boo’s initial pre-sale period lasted for a total of 3 days, 7 hours, and 7 minutes. However, supporters of this emerging meme coin wasted no time in purchasing all available Lucky Boo Tokens during that limited time. There is great anticipation among individuals seeking to acquire a share of Lucky Boo’s fortunate charm.
According to experts, Lucky Boo is considered to be the top meme coin of the year, and it would be a mistake to not invest in it. If you want to join the high-return meme trend, there is still an opportunity to profit, but time is of the essence.
In order to take part in the Lucky Boo Pre-sale, traders are required to utilize a Solana-compatible wallet such as Phantom.
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