German investment bank Deutsche Bank recently conducted a survey that revealed a shift in consumer attitudes towards cryptocurrencies. The survey, which included over 3,600 consumers in the U.S., showed that more than half of respondents (approximately 52%) now consider cryptocurrencies to be an important asset class and method of payment transactions for the future. This marks a 12% increase compared to data from September 2023.

Despite this growing acceptance, the survey also found that 30% of respondents anticipate Bitcoin’s price to fall below $20,000 by the end of 2024, although this group has decreased slightly since January. Interestingly, less than 1% of respondents now believe that cryptocurrencies are just a passing trend, indicating a broader acceptance of crypto as a long-term financial instrument. However, only 10% of respondents expect Bitcoin to exceed $75,000 by the end of the year.

With Bitcoin approaching its fourth halving event, where miner rewards are halved, there is speculation about the potential impact on prices. While Bitcoin has historically seen price declines in the first 90 days following halving events, some analysts believe that the current landscape, including the introduction of spot Bitcoin exchange-traded funds (ETFs), could change this trend.

As consumer sentiment towards cryptocurrencies evolves, it will be interesting to see how these changes impact the market. Stay updated on the latest news and trends in the cryptocurrency world on Global Crypto News.

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