Bitcoin value expected to half, survey finds

RIYADH: Bitcoin is predicted to plunge to $10,000, slashing its current value roughly in half, rather than bounce back to $30,000, according to a new survey.

Sixty percent of the 950 investors who responded to the Bloomberg MLIV Pulse survey suggested that the virtual currency will further fall in the coming days. In comparison, 40 percent expected a rebound to $30,000.

It was on June 19 that cryptocurrencies, including Bitcoin and Ethereum, plummeted beyond investors’ expectations. Bitcoin dropped below $19,000 on June 19; as of July 11, it is priced at $20,539.