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

[BitCoinKeeper]

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

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.

[LoyceV]

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.

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.

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

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

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.

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.

[dimonstration]

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.

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.

[Warkop]

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.

[boltz]

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.

[blozo]

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

[KennyR]

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.

[Feuerbach]

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

[Redanim]

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.

[Hamstead]

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

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.

[swogerino]

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.

[Glorious04]

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.

[goldade]

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 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.

[Harrisonimo]

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.

[Puff Pastry Hangman]

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.

[strocifer]

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.

[centralbanksequalsbombs]

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.

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.

[Irdina]

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..

[specsmuluk]

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 ...

[Ctn]

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.