A new survey says U.S. consumers believe FTX’s high-profile implosion will drive Bitcoin (BTC) prices to new lows amid the ongoing bear market.
Business intelligence firm Morning Consult conducted the study with a sample size of between 2,200 and 4,400 U.S. adults from Nov. 15 to Nov. 17, a few days after the collapse of FTX.
According to the survey, US consumers believe Bitcoin will fall to $11,526 within six months in the wake of the FTX bankruptcy, suggesting a potential drop of more than 32% from BTC’s current value of $17,046.
Morning Consult also says that the current forecast from US consumers is $5,600 lower than the result of the same survey conducted in October this year and was more than $15,500 cheaper when they conducted the survey in January.
says Morning Consult,
“News has clearly shaken consumer confidence in the value of the most prominent cryptocurrency.”
While all American adults believe that Bitcoin will fall significantly in the coming months, crypto owners are “slightly more optimistic” according to the study. Crypto owners who participated in the poll predicted that BTC would rise to USD 17,503.
According to Morning Consult, crypto owners’ price predictions were significantly higher than the pulse rate of the general population and more in touch with the current value of BTC.
The survey also shows that only 38% of US consumers believe digital assets are likely to survive into the next decade, while 74% of crypto owners believe crypto is likely to survive into the next 10 years.
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