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

[Crypto Jaga]

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.

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[Ewox]

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"  

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?

[martin1221]

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

[w5pn73]

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

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

[nydiacaskey01]

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.

[djsugar]

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.

[aardvark15]

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

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.

[LodisMcguire]

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

[william8829]

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.

[Vatimins]

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.

[MJunioR]

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

[Hihop]

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.

[Svelto]

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.

[eternalgloom]

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.

[TiffanyLien23]

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.

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.

[Tavarez]

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.

[BrewMaster]

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.

[bettercrypto]

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.

[xaviervilla]

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.

[harizen]

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

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.