Nearly a third of people think bitcoin will collapse in the next six months

[minerich]

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

[1714046282]

1714046282

[Janation]

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.

[Lieldoryn]

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.

[stompix]

Let me doubt those numbers....

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.

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.

[WinLikeStupid]

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

[cryptolit]

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.

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

[fiulpro]

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...

[kiwasmose]

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.

[Jating]

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.

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.

[Adrazan]

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

[nagatraju]

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.

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

[Razick]

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.

[BingoDog]

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.

[gredisgold88]

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 ? .   

[gentlemand]

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.

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.

[khufuking]

Let me doubt those numbers....

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.

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 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 .

[alyssa85]

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.

[manatadecoco]

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?

[Kprawn]

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"  

[joebrook]

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?

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.