Bitcoin Fails to Surpass $50,000... "Cryptocurrency to Replace Traditional Currency Within 10 Years"

Survey Results from Accounting Firm Deloitte
83% of Respondents Say "Cryptocurrency Will Become Mainstream"
73% Say "Without Adopting Cryptocurrency, You Will Fall Behind in Competition"

[Asia Economy New York=Special Correspondent Baek Jong-min] Cryptocurrency Bitcoin showed renewed strength over the weekend, attempting to surpass $50,000 but fell back to the $48,000 range. Deloitte, one of the world's Big Four accounting firms, released a survey stating that cryptocurrency could replace traditional currency within the next 10 years.

[Image source=Reuters Yonhap News]

According to CoinMarketCap, Bitcoin recorded $49,800 on the 21st (local time) and was trading at $48,474 on the 22nd, down about 1%.

The second largest cryptocurrency by market capitalization, Ethereum, rose to $3,295 during the day on the 21st but was priced at $3,149 on the 22nd, down 2.4%.

Cardano reached an all-time high of $2.64 on the day and is currently trading at $2.54.

Despite the sluggishness of Bitcoin and Ethereum on the day, the total cryptocurrency market capitalization recorded $2.0563 trillion. The cryptocurrency market capitalization recovered to $2 trillion on the 20th.

According to the annual cryptocurrency survey by international accounting firm Deloitte, 76% of respondents said that cryptocurrency could become a strong alternative or complete replacement for traditional currency within 5 to 10 years. This survey was conducted in March before the sharp decline of cryptocurrencies, targeting 1,000 financial experts worldwide.

83% of respondents answered that cryptocurrencies have been widely recognized and have emerged as mainstream. 73% expressed concern that failure to adopt cryptocurrencies could result in falling behind in competition.

Regarding obstacles to the spread of cryptocurrencies, 65% of respondents cited existing financial infrastructure, 63% cited security, and 60% cited government regulation.

This content was produced with the assistance of AI translation services.