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Wall Street says Bitcoin is more likely to hit $10,000 than $30,000

Bitcoin continues to suffer, and according to a recent survey by Wall Street investors, the price may halve from this point.

@JakConnorTT
Published Jul 12, 2022 2:05 AM CDT   |   Updated Wed, Aug 3 2022 7:40 AM CDT

Bitcoin's price has been on a slow decline since November last year, when it reached its current all-time high of $69,000.

Wall Street says Bitcoin is more likely to hit $10,000 than $30,000 02 | TweakTown.com

The price of Bitcoin has been trickling down for all of 2022, but fell off a metaphorical cliff in June when it dived by 47% to reach the $20,000 price point. With many investors and traders pulling their money out of the seemingly collapsing market, the price is still continuing to decline, causing fear-uncertainty and doubt to plague the space.

According to a recent report by Bloomberg, which surveyed 950 Wall Street investors, the price of Bitcoin is more likely to fall to $10,000 than to rally back up to $30,000, says 60% of those investors. The remaining 40% of surveyed investors believe that Bitcoin is more likely to have a slight bull run-up to the $30,000 mark.

With the current global economic climate, it's unsurprising to see high-profile investors' sentiments be bearish as even the stock market is facing a downturn with companies such as Meta, Twitter, Tesla, and more, reducing hiring targets and overall running a much leaner company in anticipation for a recession.

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* Prices last scanned on 8/12/2022 at 12:03 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:futurism.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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