US Bitcoin Owners Plan To 'Buy The Dip,' Expect Apex Crypto's Price To Hit This Level Within 6 Months: Survey

The recent fall in the price of Bitcoin BTC/USD has not dampened the enthusiasm of U.S. cryptocurrency owners and the majority of them plan to “buy the dip,” a survey has shown.

What Happened: The survey of 4,400 U.S. adults conducted by market intelligence firm Morning Consult also showed that Bitcoin owners, on average, expect the apex cryptocurrency’s price to surge to $55,223 in six months.

For Bitcoin owners, the cryptocurrency’s recent price drop represents just a dip and not a permanent loss of value.

In addition, the survey showed that about one-fifth of U.S. adults — the same as the percentage in November — were considering buying Bitcoin as of last week.

This indicates consumers are less nervous about the apex cryptocurrency’s recent price drop compared with last summer, as per the survey. The bitcoin purchase consideration had dropped to a 2021 low of 13 percent in July.

See also: How To Buy Bitcoin (BTC)

Why It Matters: The results of the survey highlight the rising profile and continued mainstream acceptance of Bitcoin and other cryptocurrencies. A growing number of companies now accept Bitcoin for payments.

The price of Bitcoin — the world’s largest cryptocurrency by market capitalization — is stabilizing after falling in January amid worries about monetary policy tightening by the U.S. Federal Reserve.

The apex cryptocurrency is down 44. from its all-time high of $68,789.63 touched in November.

Price Action: Bitcoin is little changed during the past 24 hours, trading at $38,330.92 at press time.

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