Investors expect bitcoin to reach $10,000 sooner than $30,000

The MLIV Pulse survey found that about 60% of the 950 investors surveyed believe Bitcoin has a higher chance of reaching the $10,000 mark than the $30,000 mark. Currently, the price is at $20,500.

These figures reflect that investors now see the cryptocurrency market in a downtrend. Bitcoin prices have fallen sharply this year as investors reduce their holdings of risky assets due to concerns about inflation and interest rate hikes by central banks.

Many crypto companies are also facing liquidity issues. Celsius Networks, one of the world’s largest cryptocurrency lending platforms, informed its customers of the suspension of its withdrawal service and transfers as the market experiences high volatility.

Meanwhile, Voyager Digital, a U.S.-based digital asset broker, has suspended all client trading, including deposits, withdrawals and distributions to clients.

Vauld, a Singapore-based cryptocurrency lender, also announced the suspension of all cryptocurrency withdrawals, trading, and deposits on the company’s platform.

Jared Madface, the partner at Tribe Capital, said, “It’s very easy for investors to get scared right now. It’s not just about crypto. But the global outlook as well.”

The bitcoin price has fallen by more than two-thirds since it nearly hit $69,000 last November and has not reached the $10,000 mark since September 2020.

The Spot Market is Open

Monday, July 11, 2022

Crypto
Updated at
USD
Price

Change

%Change
14.45 BTC20,457.52-498.87-2.38
14.45 ETH1,144.74-28.22-2.41
14.45 LTC51.02-1.12-2.15
14.45 BNB229.64-4.13-1.77
14.45 XRP0.32+0.00+0.12
14.45 ADA0.45-0.01-1.72
14.45 DOT6.78-0.10-1.47
14.45 DOGE0.07-0.00-2.57
14.45 UNI6.09-0.10-1.86
14.45 LINK6.28+0.08+1.34

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