30 August 2026
Majority of Wall Street Investors Expect Bitcoin to Drop to $10,000
According to a Bloomberg MLIV Pulse survey, 60% of respondents believe that the world’s largest cryptocurrency, Bitcoin, is heading back to $10,000.
At the same time, 40% of the respondents believe that is eventually going to reclaim the $30,000 level.
The majority of investors who participated in the survey have expressed at least a certain degree of skepticism regarding cryptocurrencies.
The Crypto market witnessed a massive correction with U.S. equities after the U.S. Federal Reserve took its foot off the U.S. economy’s gas pedal by withdrawing its extraordinary monetary support.
According to sources, the central bank might announce an additional 75 basis point rate hike this month to inflation. The hike in rates has a significant impact on risk assets such as Bitcoin.
If respondents of the survey are right, Bitcoin is on track to record another drop of roughly 43%. Back on June 18, Bitcoin plunged to $17,622, the lowest level since December 2020. It marked the local bottom of the ongoing correction, but some big names believe that the bellwether cryptocurrency could plunge much lower.
The global chief investment officer at Guggenheim Partners, Scott Minerd, predicts that Bitcoin price might ultimately plunge to as low as $8,000.
In spite of being bullish on the cryptocurrency industry, the CEO of Galaxy Digital, Mike Novogratz, didn’t rule that the top cryptocurrency could experience more pain in the short term.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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