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Bitcoin Faces Another 50% Drop, Wall Street Says: MLIV Pulse

July 11, 2022, 11:44 AM

Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse.

The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Forty percent saw it going the other way. Bitcoin fell 2.4% to $20,474 on Monday morning in New York.

The lopsided prediction underscores how bearish investors have become. The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money ...