A recent survey conducted by Deutsche Bank indicates a shift in consumer sentiment regarding bitcoin, with skepticism appearing to wane slightly, as reported on Monday. The survey suggests that although a significant number of consumers still anticipate a potential decline in bitcoin's price by the end of 2024, there is a growing sense of its importance as an asset class and method of payment.

The Deutsche Bank survey included over 3,600 consumers, revealing that 52% of respondents now view cryptocurrencies as an "important asset class and method of payment transactions" for the future, an increase from less than 40% who shared this view in September 2023.

In terms of price expectations, about a third of U.S. respondents predict that bitcoin could fall below $20,000 by the end of 2024. However, this group has slightly decreased in size, from 35% in February and 36% in January. The number of people who dismiss cryptocurrencies as "just a fad that will eventually fade" has dwindled to less than 1%. Nonetheless, only a modest 10% of those surveyed anticipate bitcoin's value to exceed $75,000 by the year's end.

The Deutsche Bank survey reflects a nuanced picture of consumer attitudes towards bitcoin, with a notable shift towards recognizing its potential as a significant financial asset despite concerns about its future valuation.

Originally reported by Reuters