{"id":13090,"date":"2022-07-01T03:10:21","date_gmt":"2022-07-01T03:10:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/deutsche-bank-predicts-bitcoin-rising-to-28k-by-year-end-warns-crypto-free-fall-could-continue-markets-and-prices-bitcoin-news\/"},"modified":"2022-07-01T03:10:21","modified_gmt":"2022-07-01T03:10:21","slug":"deutsche-bank-predicts-bitcoin-rising-to-28k-by-year-end-warns-crypto-free-fall-could-continue-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/deutsche-bank-predicts-bitcoin-rising-to-28k-by-year-end-warns-crypto-free-fall-could-continue-markets-and-prices-bitcoin-news\/","title":{"rendered":"Deutsche Bank Predicts Bitcoin Rising to $28K by Year-End \u2014 Warns ‘Crypto Free Fall Could Continue’ \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Deutsche Bank has predicted that the price of bitcoin will increase nearly 40% from the current level to $28K by the end of the year. The bank\u2019s analysts also warned that \u201cthe crypto free fall could continue.\u201d <\/strong><\/p>\n

Deutsche Bank\u2019s Bitcoin Price Prediction<\/h2>\n

Deutsche Bank has reportedly predicted that the price of bitcoin will rise to $28,000 by year-end, Bloomberg reported Wednesday, citing an analysis by the bank\u2019s senior economist and market strategist Marion Laboure and research analyst Galina Pozdnyakova.<\/p>\n

Based on their analysis, bitcoin\u2019s price will rally 38% from the current price of $20,329 given how closely BTC<\/a> has been trading with U.S. stocks.<\/p>\n

They noted that cryptocurrencies have been correlated to benchmarks like the tech-heavy Nasdaq 100 and the S&P 500 since November. The S&P 500 is down 21% since the beginning of the year. The Deutsche Bank strategists expect the index to recover to January levels by the end of the year.<\/p>\n

Laboure and Pozdnyakova liken bitcoin to diamonds, rather than gold, the publication conveyed. They referenced the tale of De Beers, a major company in the diamond industry that was able to change consumer perception about diamonds through advertising efforts.<\/p>\n

\u201cBy marketing an idea rather than a product, they built a solid foundation for the $72 billion-a-year diamond industry, which they have dominated for the last eighty years,\u201d the analysts detailed, elaborating:<\/p>\n

\n

What\u2019s true for diamonds is true for many goods and services, including bitcoins.<\/p>\n<\/blockquote>\n

The Deutsche Bank research analysts also discussed recent turmoil in the crypto space, including troubles at some crypto lenders such as Celsius Network.<\/p>\n

\u201cStabilizing token prices is hard because there are no common valuation models like those within the public equity system. In addition, the crypto market is highly fragmented,\u201d they opined, warning:<\/p>\n

\n

The crypto free fall could continue because of the system\u2019s complexity.<\/p>\n<\/blockquote>\n

Laboure previously said she could \u201cpotentially\u201d see bitcoin becoming \u201cthe 21st-century digital gold,\u201d emphasizing that \u201cPeople have always sought assets that were not controlled by governments.\u201d The economist noted: \u201cGold has had this role for centuries \u2026 Let\u2019s not forget that gold was also volatile historically.\u201d<\/p>\n

Do you agree with Deutsche Bank\u2019s analysis? Let us know in the comments section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n