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
Topic: Nearly a third of people think bitcoin will collapse in the next six months - page 3. (Read 1456 times)
November 14, 2017, 12:56:16 PM
November 14, 2017, 12:48:00 PM
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.
November 14, 2017, 12:46:14 PM
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.
November 14, 2017, 12:45:22 PM
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
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.
November 14, 2017, 12:42:15 PM
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.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.
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.Cut this number in 1/5 and it might be closer to reality.
Quote
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.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.
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.
November 14, 2017, 12:38:55 PM
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
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.
November 14, 2017, 12:38:09 PM
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
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.
November 14, 2017, 12:33:56 PM
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.
November 14, 2017, 12:28:38 PM
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.
November 14, 2017, 12:27:02 PM
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.
November 14, 2017, 12:26:00 PM
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.
November 14, 2017, 12:23:04 PM
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.
November 14, 2017, 12:21:23 PM
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.
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.
November 14, 2017, 12:13:53 PM
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.
November 14, 2017, 12:12:25 PM
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.
November 14, 2017, 11:58:24 AM
Do the same research in six months again, the answer will be the same and people aren't to blame.
November 14, 2017, 11:51:49 AM
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.
November 14, 2017, 10:32:51 AM
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.
https://www.dcyfor.com/copy-of-research-9
Polling a thousand people does not make up comprehensive study on Bitcoin.
November 14, 2017, 10:29:28 AM
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
Even if we afraid of the collapse,it's not stopping us to still into bitcoin
November 14, 2017, 10:27:17 AM
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
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.
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