Bitcoin Survey: Most Investors Expect BTC to Tap $10K Before $30K
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The survey conducted on 950 respondents between July 5 and 8 asked if they saw Bitcoin hitting $10K or $30K first in the near term. The result of the survey showed that 60% of the investors saw BTC falling to $10K first before anything else.
Meanwhile, 28% of respondents indicated that they had confidence that crypto was the future of finance, while 20% noted that crypto was worthless. The survey added that most of the respondents were slightly skeptical about cryptocurrencies.
When quizzed about non-fungible tokens (NFTs), only a little over 9% of total respondents agreed to see them as investment vehicles. The majority of respondents noted they only saw them as art projects or status symbols.
At press time, the benchmark cryptocurrency trades below the $20K level, down 2.87% over the last 24 hours.
Over the months, there have been numerous speculations about where the bottom of the Vera cycle is for BTC. Last week, popular entrepreneur Kevin O’Leary warned that the benchmark cryptocurrency has not bottomed yet. O’Leary further warned that there would be a massive panic in the cryptocurrency space soon.
Key Bitcoin Levels to Watch — July 12
Bitcoin returned to the bears at the Asian open on Sunday, falling from the $22K top to the sub-$20K mark as macroeconomic and geopolitical developments weighed on risky assets. The benchmark cryptocurrency now clings at the $20K base as it fights to stall further bearish clearance to the $19K – $18K zone.
While July is hoped to be a bullish month for the cryptocurrency, BTC bulls have shown no commitment to putting a healthy distance from the bottom for the primary cryptocurrency. That said, we could record more downsides over the coming days to $19K.
Meanwhile, my resistance levels are at $20,700, $21,000, and $22,000, and my key support levels are at $19,000, $18,000, and $17,000.
Total Market Capitalization: $886.2 billion
Bitcoin Market Capitalization: $380.3 billion
Bitcoin Dominance: 42.9%
Market Rank: #1
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