Deutsche Bank: Only 10% of consumers expect BTC to rise above $75 000 by the end of the year
About a third of the respondents allowed the possibility of the exchange rate to fall below $20 000
09.04.2024 - 13:55
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What’s new? According to a Deutsche Bank survey, consumers are divided on the sustainability of bitcoin, with about a third expecting the value of the first cryptocurrency to fall below $20 000 by the end of the year. That would return the asset to levels last seen during the bear market of 2022. Only 10% of the 3600 respondents said BTC would rise above $75 000 by the end of the year.
What else is known? About 40% of respondents expressed confidence that bitcoin will thrive over the next few years, along with 38% expecting it to disappear.
Bitcoin hit an all-time high of $73 798 on March 14 but has since corrected by 4% to trade at $70 891. The rise came after the launch of asset-based spot exchange-traded funds (ETFs) in the United States. Total inflows into ten such funds have reached $12,39 billion since trading began on January 11.
Earlier, analyst Kevin Svenson, based on the RSI indicator, suggested that BTC will set a new record on April 20. It is on that day that the network is expected to halve the issuance of the asset, cutting the reward for a mined block.
Ripple CEO predicts the growth of the crypto market capitalization above $5 trillion by the end of the year
Brad Garlinghouse noted the impact of spot BTC exchange-traded funds on the digital asset industry
According to a February survey by JPMorgan Bank, 78% of institutional investors do not plan to trade cryptocurrencies.
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