Bitcoin Forum

Although public awareness of bitcoin is now at an all time high, confidence in the cryptocurrency is still low as new research has suggested nearly a third of people think it will collapse in the next six months. Bitcoin's price, which is famous for its volatility, climbed to record highs of more than $7,000 in recent weeks.

A survey by market research firm D-CYFOR, found that although 80 per cent of the general public in the UK have heard of bitcoin, 58 per cent said they would not invest in it and 30 per cent predict it will collapse and be worthless within the next six months. On the flip side, 54 per cent were optimistic about an increase in its value over the next six months, but only 15 per cent said they were thinking of investing in it while seven per cent said they already had.

Millennials were the most open to investing in bitcoin with 23 per cent considering buying into the cryptocurrency. Only four per cent of people aged 65 and above wanted to invest in bitcoin.

Bitcoin is having its moment in the limelight, but while that means more people are investing in the cryptocurrency, it also means increased scrutiny from regulators. That came after a crackdown on initial coin offerings (ICOs) by the FCA in September.


http://www.cityam.com/275703/nearly-third-people-think-bitcoin-collapse-next-six-months

We can't blame them, I mean bitcoin is volatile, the price changes every time. What will work here is the your skill in predicting what may happen and your knowledge to think what will people do in a certain period of time. If bitcoin will collapse in the next 6 months, then I think it must had collapsed earlier.

I want to cast doubt on the conclusion of such research. If you will research on the streets on the effectiveness of various modern methods of diagnosis and treatment of cancer. You trust these studies? The question of course is rhetorical. How can you treat the opinion of those people who don't know what bitcoin is and never used it.

Let me doubt those numbers....



80% have heard of bitcoin? Let's be real.
Cut this number in 1/5 and it might be closer to reality.

Also we have 7% that have invested in it.

Ok, let's crunch the numbers.
UK , 64 millions, 80% means 51 millions 7% out of those are 3.5 millions.
And that is the UK  alone. If we add just the US/Canada/DE/FR with the same numbers we might end with more than 20 million investors in bitcoin just from the biggest western countries.

Sorry but that is BS.

I read that somewhere between 1-15% of people actually use crypto. Your stat makes sense. They don't get it.

I have to agree; this article doesn't really say much. They should ask experts in related fields rather than people on the street.

I think it won't.

The CME will start accepting bitcoins future contract as soon as December or nothing more than 3 or 4 months... And this is going to shift the price of bitcoins veey high !

Bitcoin are just too big to ignore Thus now.. I think there are chances of goverment adopting it in the bear future.. the first step has already been taken up by Japan's government.

Also the buying ratesof bitcoins are still higher and tgey are just being extremely volatile...after it settles down there won't be any problems...

Millennials are the main group of investment bitcoin, and this crowd is the main force of this era. It's not surprising that in their father's generation, a lot of people don't care about bitcoin, and they never want to invest in virtual money.

Exactly. Its just their own opinion because in the first place, they really don't know how bitcoin market works. They will just said that voice their opinion without really know that facts. And to think that they have that notion that bitcoin will collapse in the next 6 months is laughable. Doesn't it mean that we are going to die in the next 6 months? LOL.

This media is really blowing out of proportions what bitcoin can really do to investors like us. They don't have any slight of a clue. Well the market is volatile there is no question about it, however its moving toward a positive result for all of us.

A massive awareness​ on how Bitcoin works is really needed at this time so that people that do not know about it would not be misleading those that are just embracing it

I agree...it's possible to think from the side, but you need to include brains and make predictions...the rises and falls are a normal process and don't need to sow panic

That is actually not that bad of a stat. A couple years ago that would've read two/thirds or even more like three quarters. People only understand paper money and have a hard time believing something else could come into the market. But not it has and they are finally trying to start to wrap their heads around it, most likely because they had no choice and their work was telling them to look into it.

I'm not sure how relevant are this data and what was the scope of users who gave this opinion. Bitcoin is volatile, it always has been and it alwys will be it's not something stable, secure and fully predictable and so must be treated. If the price goes down for a while that doesn't mean bitcoin will collapse and vanish and people have to understand that they can't get profit all the time, endlessly. Something like that doesn't exist, this is kind of spoiled children thinking.

so confuse read arguments OP, how bitcoin collapse in next semester ? . if BTC collapse  , indicate cryptocurreny users bid sell with big volume in exchange , but how some one can sell big volume ? , maybe you know some organistation have one millions BTC ? .   

7% is ludicrous. 80% is conceivable. All they need to do to qualify for that is hear the word Bitcoin.

And a third of people believing it'll collapse really isn't bad at all. I was expecting 90% or more.

I agree with this the numbers seems to be far far away from reality . There is a big different between heard of and really know it . A lot of people heard about BTC lately because of all news related to it and how crazy it is  . But I strongly doubt that even 10% of people heard about it knows what really BTC is , All they know that it is virtual currency that worth $6500 .

These surveys are kind of useless because the general public only knows what they read in the press. And the press has been keen to publicise the views of people like Jamie Dimon ("bitcoin is a bubble") but they never put the opposite point of view.

It's equivalent of doing a survey about what the public think will happen to the stock market. Most don't hold or trade stocks, so will be clueless and will just parrot what they heard on the news the previous evening.

It's the number which shows that a person beyond double invests certainly in several months, isn't it?
How will they saying that they collapse half year do 1 year later? How will they do 3 years later?

I think they key word is "General Public" and that would make more sense. The "General Public" is being bombarded by

negative articles that are being blasted in the media. Every other article calls it a "Bubble" or "BTC is linked to crime" and

this or that Ransomware are using Bitcoin, so the "General Public" will perceive Bitcoin in a bad light. If you go out there and

ask people "What Bitcoin is" ...most will not be able to tell you.... the "General Public" cannot make such predictions if they

do not have a clue "What Bitcoin is"  ::)

Its all speculation and if that should really happen, look at the signs now, what shows that bitcoin will collapse, if its on the verge of collapse, the value will heading towards $3000 at the moment but i don't think that is going to happen, this is a minor setback which is going to get rectified soon.

I think while many people may just heard about bitcoin, it is not yet very clear to general public how to invest in bitcoin, not because the process is vulnerable to hacking, but also due to very unclear information on buying, trading and storing them. However, with recent media coverage, more and more people will get into it, and we may see many real applications, then the fear around it will reduce and more and more people will get into it.

I definitely agree with you on this. Most of the people still are not aware what Bitcoin is and what is its usage so how can they predict what happens to Bitcoin if as simple as that question and they could not even answer. That's the irony of these people saying negative things about Bitcoin, they think they know everything and talk about Bitcoin negatively and funny thing is they are on this forum waiting for their Bitcoin payout from joining Bounties or Campaigns; ironic isn't it?

As i seen those percentage of people which they part of. I think its imposible, they have their own opinion which has no evidence and bit all surveys, we know that bitcoin is a volatile but we have carying a knowledge how bitcoin works and move. Lets just go with the flow

I don't think it really means anything, most of these people probably aren't investing in for example gold or silver either.

Well maybe because a third of the Bitcoin users wants the price to go down and buy when it crashed so that they can sell after the price recovers. From what I see, theres a lot of new Bitcoin users theres so many of them it shadowed those who were using Bitcoins way back when it started, and the new breed of Bitcoin users dont believe in Bitcoins capacity and capability. They are here not for the long run.

Not even 1% of global population is into Bitcoin. If only 30% believe in collapse, then huge majority is in favor and this is the big sign of coming demand and growth. This is a good sign for crypto market that such a huge percentage of people believe in cryptos. Right now a huge transition in Bitcoin popularity on global scale is taking place. I don't believe end is anywhere near. Rather 2018 would be the best year for BTC so far.

This is basically what the general public has been saying since the beginning of Bitcoin. There have been numerous times that articles and blogs had declared Bitcoin officially dead. Apparently that will continue as more and more people become rich from Bitcoin. It is possible that Bitcoin will fail at some point if government regulations restrict it too much or if fees get too high but for now it is proving all the critics wrong.

Regardless of what they think,i still believe bitcoin will be accepted by more people
Even if we afraid of the collapse,it's not stopping us to still into bitcoin

This is the first time I have ever read an article on cityam.com.  First article I have read by Courtney Goldsmith.  That made me skepticle from the beginning.  This apparently is a link to the study cited:

https://www.dcyfor.com/copy-of-research-9

Polling a thousand people does not make up comprehensive study on Bitcoin.

Sorry to say this but, i think this research is nothing but bullcrap. And i mean total bullcrap. Numbers are obviously unrealistic. Plus man, being here for more than a year, i cam really say that bitcoin has gone through these type of problems soo soo mamy times already that it is uncountable. I am pretty sure that bitcoin will certainly come out of this trial amd become even better and stronger.

Do the same research in six months again, the answer will be the same and people aren't to blame.

Why post something that is so nonsensical? I have been an avid bitcoiner for over three years and I'm still learning and constantly amazed by how ignorant the vast majority of crypto-tourist are. There is absolutely no way anyone can render an intelligent perspective on bitcoin if one has only viewed it on the sidelines.

Everyone is free to forecast the price of BTC. Personally, I don’t think BTC will collapse in 6 months. Look at how strong is BTC, price is rising steadily after the fuds.

I think it's pretty surprising that there are still people who think that Bitcoin will crash and remain without any value afterwards...
Have these people not seen what happened so many times over and over in the past 7 years?

We'll see another big correction, maybe even a crash, but we all know that the value will go up again eventually.

This also makes me wonder how this survey was done exactly.

Yes i agree. They keep on turning it down so that no one can use this. They tried to show to the people that bitcoin has a  dis advantage.. This article has a lot of fake news.

well one third of them invested everything in bch and now they hope for btc to collapse..... not enough arguments to support that scenario. SEgwit x2 will come up right in the time to keep BTC trusty coin. powerful people won't let their btc investments went down.

i think this so called survey was done a while ago, it is not new. and by that time bitcoin price was way lower than this. it is possible that was another survey but the point stands. these are not reliable sources. that survey i remember also claimed people were saying bitcoin will "collapse" in the next 6 months and now over 6 months has passed and nothing has happened except lots of rises.

Oh well these are just speculation, I think this is made to FUD Bitcoin again, probably part of the BCH scheme.  No one will ever know what will be the bitcoin trend on the next weeks or days unless there is some major fallback on its development and/or community.  I believe there is no big news today that will affect Bitcoin price to crash or collapse in the next months.  As a matter of fact I believe there is a good news coming to Bitcoin.

Mayne yes oraybe not, no one can honestly say an exact prediction about this topic. The only thing we all can do give our own speculations about this matter. Because clearly no one here has invented a time machine yet. But if there is already someone who did, take me with you please. Lol. But seriously, in my own opinion, o really do not see bitcoins falling down despite all the challenges it is going through right now. I believe in bitcoin. And i will never ever dump my possessions no matter what.

Just let that numbers/percantages as numbers. It's not a big deal after all since it was only based on a certain location and not as general.

Im not surprised that even bitcoin gained much more public awareness globally because of it's continous price rise, still the popularity of it didn't reached the majority of other people here in our country although I can say that we have lots of crytocurrency users already here. But Im sure that even they are being reached, they will not think that bitcoin collapse in the next 6 following months. So hard to think after establishing a strong fundamental around the current price. Maybe I can take the similar percentage on what OP stated here if it will be bring up to my country.

Remember when they laughed and laughed when we told them we bought in when it was cheap, then they laughed and laughed some more, when it hit $500.00 then they laughed and laughed when it hit $2500.00
I believe the nay sayer's will say anything to bring it/us down.
I used to be resentful towards people like this. Don't be, realize that they lack the information necessary to make informed judgement and decisions. Try to help inform them but don't be to pushy. something I read on a fortune cookie makes a lot of sense here : "If a man is thirsty give him half a glass of water, if he is still thirsty he will ask for more."
I believe we will be thirsty for many many years to come.

There are currently just over 20 million Bitcoin addresses with a balance, most of them very low, and most people use more than one address. That leaves at most a few million people who actually own Bitcoin.
My point is, I don't believe 15% of the UK population is going to invest. They may "think" about it, but the large majority won't do it. If only a few percent of the UK population (65 million people) were to invest in Bitcoin, the number of users would double, and the value would go up much more.

And since blocks are full, doubling the number of users would mean the number of transactions per user gets halved. Bitcoin need scaling first, it can't even handle the current number of users.

If the UK is anything like the Netherlands, I believe this 80%. Almost anybody I talk to, at any age, has heard about Bitcoin.

Given the low number of funded addresses (just 20 million), that would mean there are barely any Bitcoin users left outside the UK. That 7% can't be true.

Apart from these numbers: given Bitcoin's track record, I'd say it's even likely for Bitcoin to collapse in the next six months. Probably even several times, with just as many recoveries up to a new ATH.

yes and on how the speculation had been made none of them are totally happen just like that we know that this was just another speculation of bitcoin but for all of us trsuting that bitcoin will rise and never been dump or may totally dead or might collapse for the coming six months we cant say it can be yes or no it will always depends on people that will always trust on bitcoin.

Maybe most people think with the price drop like this they immediately assume that Bitcoin will collapse seems like such a thing will never happen, because I think Bitcoin is looking for its lowest point now, in order to rise higher again from the price yesterday. , so for people who think like that should not spread the issue that is not necessarily true.

Are you sure those numbers are correct ? I don't think they are because let's be honest almost the all UK ppl heard of bitcoin cannot be real. But what am I agreed with it is that bitcoin will fall but we will not see under 1k ever guys.

Most people don't understand the blockchain technology behind bitcoin. It'starting to be used by most of the firms in the world in almost any sector and there is gold rush ongoing with 50+ ICOs per month.

So yes if bitcoin is seen independently it can be considered overvalued/in a bubble, if it is seen as entry point of an exponential growing market its value is only bound to grow

By the time of price drop users had such a thinking, and one thing that increased the panic among users is the price increase of bitcoin cash. Now as the price of bitcoin had been showing growth compared to the days of steep fall the panic little by little getting vanished.

people think that bitcoin will collapse in the next 6 months, because they are not competent in this matter

Where did they get that it will happen within 6 months. Bitcoin has been growing for a year now and nothing has happened with him, I'm sure that bitcoin will not explode in the next year even within 6 months. Of course everyone has his own opinion and need appreciate it, but there are no facts that bitcain will explode. While big players will make investments - bitcoin will be in safe hands.

It's really hard for us to push them to be a part of bitcoin/crypto community. We have different vision's in our life and we have our own way's to reach it. To be a part of this community is not totally an options but it's individual's choice. Even though bitcoin is not totally spread worldwide but if your choice to have it, is gonna be a smart decision.

People are used to troll against Bitcoin when ever they get a chance. They have tried to bash bitcoin since the beginning of bitcoin history and have done so many times but have not succeeded. They will not succeed this time either. Bitcoin has been part of our lives since 2009 and it takes much more than what people think to take it down. 33% of people is a really big amount and I don't think that, that amount of people know well what bitcoin is or how bitcoin works.

I think those who are against and pessimistic are those who has not yet tried and has not yet known bitcoin maybe or those who've read and heard news about well known people talking negatively or I say destroying the image of bitcoin and for whatever reason they do, it brings fear and causes panic to those who believe. But nevertheless, the percentage of those who are still into it is bigger than those whoa are not.

I totally do agree with you but then they can be blamed for it. It is only natural for them to be pessimistic about it since they don't knw how bitcoin actually works and the benefits of investing in bitcoin.
This research has only shown us the naivety of people concerning bitcoin but then it does not define the value of bitcoin.
Bitcoin has not and will not in any way collapse based on the speculations of people who don't know how bitcoin works and are ignorant of its numerous benefits.

I quite frankly disagree about bitcoin collapsing in the next six months. There are even other speculations that bitcoin will stay at the top rank while others follow; even after new introductions into the coin market. I do believe the altcoins can only help frustrate themselves by diluting each other's prowess. The gradual but steady  spread of the bitcoin/Cryptocurrency will take alongside bitcoin itself to get itself spread. So, bitcoin has an established leverage/platform on which it sustains itself.

I can see why people would think it's prone to collapse in 6 months, it's a strange concept at first and for me it was only with time watching things develop that I started to see collapse as unlikely. When was the big bitcoin news this year? Give it a year or so after that and some positive news will act as a trigger to increase adoption.

Another possibility is that a different coin finds a way to get itself into the hands of the population with some usability leap forward.

All people who were willing to invest in bitcoin for an long time , but never did, are now praying for a downfall just because they are jealous. That makes your stat.

Bitcoin is probably almost 1% adopted by people all around the world. Even in the most adopted country, the USA, most people have no idea what Bitcoin really is. Wait until we are closer to 3% adoption.

Once we hit 4% adoption in the world, then Bitcoin = mainstream.

Let that sink in.

It's impossible,People who think like that only people who want to drop the price of bitcoin.Six months ahead bitcoin prices will rise higher.. Don't believe in false news..

in my opinion will not collapse in the good months because bitcoin now has increased its development let alone almost all the world wear bitcoin. and also many peminatnya because bitcoin very high price ...

I think that is pretty obvious number of the percentage of people not trusting and trusting the bitcoin and other markets here in. There is reason which we know or which they are giving and thats the volatility of the bitcoin itself. There is decentralised nature and there are also various rules and regulation of which people are very much afraid to invest into bitcoin. The community will get into bitcoin once there is stubborn base for it y the regulatory authorities or stuff like that. Otherwise there won’t be anything until people get self aware that how bitcoin can lead us to the great finances.

The research is just based on a specific country which will make false conclusion because bitcoin is used worldwide. In general, it may have different results or maybe opposite.
Because in my opinion, many do trust bitcoin.
Frauds are causing new adaptors and not the old users.
But the point that trust is a big issue on the subject because more or less new investors and adaptors are important in the industry. New supporters will definitely have an effect in bitcoins price. If new adaptors see that bitcoin is not worth to invest then like what happened before other alts will attract them which may be not safe.

I think its telling that such a high percentage of folks think that we will suffer a major correction, especially since so many people in this space are downright ignorant. the popular sentiment seems to be that we are in a bubble at the moment, but inside and outside the sphere. since consensus is pretty much the whole of this, once people think this is the case it is so. self fufilling prophecy (spelling).

but from a personal perspective, the recent correction should demonstrate how ephemeral this years gains have been. this is purely speculative at this point,

buyer beware.

we can not guess where this bitcoin will collapse because this bitcoin is in demand by everyone, I think bitcoin can not we guess when it will collapse or crumble

these fake statistics have always been true and in 100% of cases they are always wrong.

if you think about this logically you can simply figure out why it is wrong.
about 80-90% of the people around the world don't know what bitcoin is or have only heard it in passing and have no more information about it.
even if we say these surveys were given to those knowing what bitcoin is, we can simply see that majority of the people who know what bitcoin is and have invested in it, still are not familiar with bitcoin and its market. you can see how many get confused as soon as there is a dip or a rise and start panicking.

Wonder how many from those people does really knows whats is bitcoin, understand it and have any crypto currencie, know already the results is i had heard about and should collapse soon. Call me ceptic but those people are replying with limited information, since countries are trying to keep bitcoin into the dark, otherwise they will follow Japan, and looks like the most countries arent ready yet. How many economist said it were a bubble at 1100 dollars and well different moment of bitcoin history, crypto supporters has raised a lot, and bitcoin is getting more volatil this days.

We can't avoid this kind of news to be released from time to time, aside from it being a fud, it is really hard to trust something that has a boost on price of 700% in less than a year. Most people are seeing this as a manipulation on prices but they will invest on bitcoin eventually and without noticing it they are being part of the crypto currency community.

Why should it? While every metric is pointing upward, and the trust in the currency is still here, why should bitcoin implode?

we can't say that hahaha no one can predict will happen on bitcoin after a few months because there a huge people want to use bitcoin
then bitcoin will be more active than before

Such interviews of people on the street are important. They show a real picture of the knowledge of ordinary people about the crypto currency and its relation to it. Of course, to their judgment that the crypto currency will collapse in the next six months should be treated skeptically. This only shows that ordinary citizens do not understand the nature of the crypto currency, because it is completely different from the currency and the money that they know. It will just take a long time before the citizens' opinions about the Crypto currency will change.

The "common people" don't really have a good knowledge on finances and investment, and since bitcoin is on the road to become digital gold, those results look perfectly normal to me. I think that if the questions were, "do you invest or plan to invest in stock markets?", "or do you think investing in stock markets is safe?", the results would probably be quite similar. The "common people" will only accept bitcoin, if it ever gets useful to them as a form of payment. So if they see it in amazon, or they are offered the option to pay in bitcoin for all kind of stuff, from goods to school tuition, then they will trust in it.

every day the bitcoin community grows, but this does not mean that the number of people who are versed in the crypto currency is growing, so why should you believe people who do not understand this.

The studies that are conducted are not concrete and mostly they are looking at peoples opinion and there is no fact to back their findings rather than saying it would collapse in a six months which is really hard to believe ,i am not sure how the things would be a couple of years from now,but i am sure it wont crash in six months time.

this is free market people are buyn and selling BTC . Whole space got a lot investment money . I wondew what  will that bring good to crypto after all.
Where you have pump then you will have dump too BTC ike gold have its ups and donwns but till it is not big as gold it can clib easy.

There has being a lot of speculation from the people who missed the boat and there is nothing they can do expect spread fake news and scare new investors and that is the only reason i see in here,the market is going strong and there are talks about bitcoin derivatives and how can it collapse withing six months.

I strongly believe in Bitcoin. It's not going to collapse. If the price goes down someday, it will raise up soon. Because Bitcoin is getting implemented in more and more places.

since bitcoin was starting allways someone is pushing bad news to dump the prize and shop some bitcoins :D
i think we will have a great year for bitcoin in 2018 !
if prize goes a bid down someone is buying bitcoins soon ;)




kind regards

A strong majority of the world population believes in the existence of a God. Despite the utter and complete lack of any evidence whatsoever, people still believe. But so what? 100 years ago your doctor might have laughed at the new "germ theory" of disease. believing instead that your humors needed balancing.

I think I'll carry on believing in what I can prove.

What is the structure of “third of people”? I would say those are newbies in Bitcoin without experience and without knowledge about the market. If they can’t get the profit they want in the short period they want they think Bitcoin will collapse. Troubles and price dumps that appear doesn’t mean Bitcoin will vanish, they are normal part of Bitcoin cycle.

That means that Bitcoin has not actually penetrated the bigger portion of our society yet because people are still entertaining sometimes baseless concepts on Bitcoin and they are maybe basing their opinion on what they heard and see in the mainstream media and only a few took the time to seriously study cryptocurrency. At any rate, this can be a big challenge for the whole Bitcoin community to help in the spread of correct information and details about Bitcoin. What is clear right now is that perceptions --whether right or wrong -- by the many have no bearing on the accelerating price of Bitcoin. As I am making this reply, Bitcoin officially entered the vicinity of $8,000 and if there would be no corrections at this stage it can be poised and prepared in its $8,300 - $8,500 journey.

Ha - who cares what a 1/3 of people in any survey say, especially when they are being asked about a topic they know very little about. I think most of the world has still never even heard of bitcoin. I think most of the US still has not heard of it, and if they have, they don't know enough to be a good source of price prediction.

This is actually good news. When general public 100% believes that bitcoin will rise, bitcoin will in reality collapse.
A real healthy bull market is one in which bullish and bearish views are nothing more than 70/30 split all the time.

This only proofs, that BTC is not accpeted by the population and main media yet. Even though there is so much development, positive news and many banks are starting to jump on to the BTC train, 30% of the people, who are not aware of BTC yet, are thinking that BTC will fail. This is btw not too bad, as 50% are still positive about BTC.
This just means, that BTC is on the rise and let's see, what the outcome of the same questionnaire will be in one or two years from now.

See,we need not blindly rely on such researches.We could not even come to a conclusion with the search result just conducted in one country.We have already come across lots of such predictions earlier.Just they try their best to convey the message not to invest in bitcoins.Bitcoin has traveled much forward and it is no more in need of such researches for its existence.Bitcoin has proved its potential a hundred times and the question is whether you want to join the ride or just stay away from bitcoin with anxiety.

If nearly a third of people think Bitcoin will collapse in the next six months, then a third of people think they can jump to the mooon! LOL

Actually now that I said that, it wasn't even meant to be a cryptocurrency related pun... my point is just how hard would it be to jump to the moon? (impossible) hehehe

It is totally wrong. I do not agree with this because more and more people are investing in bitcoin and the value and market cap of bitcoin is increasing day by day, how is it possible that bitcoin will collapse in the next six months. It is the statements of the rivals of bitcoin and those people do not want bitcoin to be the world only acceptable and usable currency in the near future, but I think that bitcoin will be the mainstream in the future.