Retail investors will prefer Bitcoin over the dollar if US defaults: survey

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  • A new survey says that retail investors would prefer bitcoin to the dollar in the event of a default.
  • Experts have warned that a US default could happen as early as June 1.
  • Standard Chartered analyst Geoff Kendrick previously predicted a 70% jump in bitcoin price in case of a US default.

A new survey finds that retail investors would prefer to buy bitcoin (btc) Above the dollar in the event of a US default.

According to reportsWhile gold and Treasuries rank high on the list of reliable safe haven assets in case of a US default, BTC was seen as the third best asset ahead of the US dollar.

Retail investors will buy BTC against the dollar

The results were from a survey conducted by Bloomberg’s Markets Live Pulse. The researchers asked investors to indicate what they would buy if the US government reached the debt limit.

Sleep 51.7% professional investors and 45.7% retail investors were going for the precious metal. A significant percentage chose Treasuries, with 14% and 15.1% of professional and retail investors respectively showing confidence with the asset class.

Meanwhile, 7.8% of professional investors and 11.3% of retail investors ranked bitcoin in third place in responses against the dollar. According to the survey, around 7.8% of professional investors and 10.2% of retail investors said they would still buy the dollar.

Bitcoin price forecast in case of US default

The US faces a default that could hit as soon as June 1, 2023, should lawmakers fail to strike a deal to lift the $31.4 trillion debt cap. Stock investors were upbeat about a possible deal on Monday. However, the stocks were mainly weak as reports of no consensus on the cards were yet to emerge.

Bitcoin, on the other hand, remained above $27,400 as analysts anticipated a possible decline to support levels seen over the past week or so. However, with the BTC price following the banking crisis rising above $31,000, it is possible that a default could provide fresh fuel for more gains.

Recently as CoinJournal Thrown light onThis bitcoin price forecast was presented by Standard Chartered analyst Geoff Kendrick. In his prediction, the head of FX research at Standard Chartered said that the price of BTC could increase by up to 70% in the event of a default.

While he suggested an early drop in the day, or two, or weeks of default would likely clip the bulls to $5k or so, the analyst believes the digital gold price could see a new $20,000 leg. Is.

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