Deutsche Bank Survey: Investors Brace for Bitcoin to Plummet Below $20,000

Deutsche Bank Survey: Investors Brace for Bitcoin to Plummet Below $20,000

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Author: James Soplin
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Deutsche Bank Survey: Investors Brace for Bitcoin to Plummet Below $20,000

A Deutsche Bank survey revealed that investors expect Bitcoin to drop below $20,000. One-third of surveyed Deutsche Bank investors anticipate Bitcoin's value falling below $20,000. The decline in the price of the leading cryptocurrency in January has led to skepticism among the surveyed investors.


 

 

After reaching the peak of $48,700 on January 11, the value of Bitcoin dropped by almost $10,000. Many retail investors believe that by the end of the year, it will fall even lower, as reported by Bloomberg citing Deutsche Bank Research.

 

During the survey conducted by the bank's research group from January 15 to 19, 2,000 people in the USA, the UK, and EU countries expressed their opinions on the price and volatility of Bitcoin. According to the report, more than a third of respondents believe that by January of the following year, Bitcoin will be priced at less than $20,000. About 15% of respondents expect the price to range from $40,000 to $75,000 by the end of the year.

BTC/USD
39,705 +509 (1.3%)

The buzz around the long-awaited launch of spot Bitcoin ETFs in the US on January 11 led to an increase in the price of Bitcoin to almost $49,000, the highest level since March 2022. Afterward, the asset's price dropped by more than 20%, momentarily falling below $39,000. At 10:30 Moscow time, the first cryptocurrency is trading at $40,137 on the Binance exchange paired with the USDT stablecoin.

The second-largest cryptocurrency, Ethereum (ETH), corrected to $2,240, losing about 13% in price over the week. The local maximum for "ether" was reached on January 12 at $2,719.

Other coins in the top 10 by market capitalization also experienced depreciation over the past seven days. Solana (SOL) token lost more than 12% in price for the week, while Ripple's XRP, Cardano (ADA), Dogecoin (DOGE), and Avalanche (AVAX) saw declines ranging from 10% to 16%.

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