Bitcoin Could Climb to $28K by 2022’s End, Deutsche Bank Analysts Suggest

Deutsche Bank analysts Marion Laboure, Galina Pozdnyakova and Galina Pozdnyakova said that the cryptocurrency market was “highly fragmented” and could continue to decline in the future. They believe bitcoin could reach $28,000 by year’s end if it maintains its close relationship to US stocks.

BTC on Christmas at $28K

The digital asset market has been experiencing a rough few weeks. Most assets have lost a large portion of their value over the past week. Bitcoin fell from $30,000 to $20,000 in half a year.

Galina Pozdnyakova and Marion Laboure, analysts at Deutsche Bank, were the latest to address this industry problem. According to the duo, stabilizing the prices of a particular digital asset will take time since “there are not common valuation models like those in the public equity system.” The analysts also stated that the crypto market is a highly fragmented niche that could crash further in the coming months.

“The system’s complexity could allow for continued crypto freefall.”

Deutsche Bank experts stated that bitcoin’s price chart has been closely following the US stocks. Laboure and Pozdnyakova predict that the S&P 500 will reach its January levels by 2022. They also suggested that primary cryptocurrency might follow their lead. BTC could soar to $28,000 if that happens.

American billionaire Mark Mobius described the digital asset last week as a “measurement of investor sentiment”, claiming that bitcoin’s value is a leading indicator that could predict the future movements of the Dow Jones Index.

“Bitcoin falls, and the Dow Jones drops the next day.” This is the pattern that you will see. This is why bitcoin is considered a leading indicator.

Deutsche Bank analysts also offered their opinion on the comparison of bitcoin and gold. They maintained, unlike many others, that the crypto asset was not like the precious metal but is similar to diamonds.

They built a strong foundation for the $72 million-a-year diamond market, which they have dominated over the past eighty years by marketing an idea, not a product. The same principle applies to bitcoin as it is for diamonds.

Are There Any Other Suggestions?

Gareth Soloway, President of InTheMoneyStocks, stated that bitcoin could crash further to $10,000 over the next few months. This is contrary to the previous forecast. He should be taken seriously as he was one of the few to predict a bearish scenario when bitcoin was trading at $50-60,000 in 2017.

Adam Back, a British cryptographer, reiterated that bitcoin could reach the $100,000 mark before 2022. He believes that bitcoin will be able to relate to stocks and traditional financial markets, contrary to Deutsche Bank’s analysts.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the””  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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