A recent Deutsche Bank survey unveils a divided stance on Bitcoin, with a notable fraction of participants envisioning a steep drop to below $20,000 by the year’s end.
This potential fall would slash the cryptocurrency’s value by over 70%, harking back to the lows of 2022.
On the flip side, a smaller group, just 10% of the over 3,600 surveyed, anticipates a surge beyond $75,000.
Amid these contrasting views, 40% hold a bright outlook for Bitcoin‘s journey ahead, while 38% forecast its eventual fade from prominence.
Notably, the skepticism is not universal, with less than 1% writing it off as a mere trend.
The survey emphasizes transparency in investment reporting, particularly regarding REITs and stocks, crucial for 2024 tax filings.
Bitcoin’s current trajectory shows a downturn, despite hitting a record peak of $73,798 in mid-March.
This marks a significant 67% gain this year, outperforming other assets like global stocks and gold.
The recent launch of Bitcoin spot Exchange-Traded Funds (ETFs) in the US has infused the market with capital, supporting advocates’ views of sustained demand.
Critics, however, remain wary, arguing that Bitcoin’s speculative nature lacks real value and is headed toward an inevitable correction.
Bitcoin’s upcoming halving event halves new supply, viewed by some as a positive momentum driver.
Victoria Bills from Banrion Capital commented on the expected boost from this event.
She indicated a continued interest and lively discussion around Bitcoin’s future market movements.