The result of a recent survey among some Wall street investors indicated that the price of Bitcoin will fall to $10,000. This survey was carried out by MLIV Pulse, an investment observance company. In the results, over 60% of the investors believe the price will fall to $10,000 before it will correct to $30,000.

The poll also further indicated that pro-investors are more supportive of the cryptocurrency ecosystem than traditional retail investors despite the current negative market downtrend.

The latest downtrend of the cryptocurrency market further fuelled by the negative events happening in the crypto ecosystem has reversed the overall positive sentiment towards cryptocurrency. As for Bitcoin, it has been underperforming significantly since the start of this year and it is currently trading very far away from its all-time peak in 2021.

To point out how bad the decline has been, Bitcoin closed its worst-ever quarter in a decade. Looking at the current downtrend, it’s no surprise why over 60% of investors believe that the Bitcoin downtrend is not over. A good number of investors believe that a dip down to $10,000 is more possible and looks more likely right now than a surge to $30,000.

The survey also revealed that cryptocurrency is a highly debates topic among the survey participants. A little over 28% of them believe that digital assets are the future of finance while at least one out of every five respondents believe cryptocurrency to be worthless and a figment of dreams which will unravel at some point.

The general apathy towards digital assets also stems from ongoing multiple challenges plaguing the world which include inflation, military conflicts, and energy crisis. Despite the massive bearish prediction for Bitcoin and other cryptocurrencies, a vast majority of Wall Street investors believe that Bitcoin will remain the most important player in its field.

Contrarily, many of them do not feel the same way for Ethereum which they believe is slowly losing its place as cryptocurrency’s second-largest asset.

Featured image source: Coingape

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