Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months
Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world.
Bitcoin has been trading in a sideways range over the past week after failing to sustain an all-time-high around $61,000 reached earlier in the month.
- The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under $60,000.
- The most common predicted range for bitcoin prices in three months was between $60,000 and $80,000, expected by some 36% of respondents.
- 69% of respondents think bitcoin is more likely to fall by half in 12 months, compared to 65% in February. BTC rallied by roughly 80% from February to March.
- Only 23% of respondents said they had ever bought bitcoin for their personal investments. Just over 40% of respondents under 35 have bought bitcoin compared to just 13% of those over 55.
Recommended News
-
HOKK Cup – LBank Arena of Valor Competition
[Arena of Valor] The glorious horn blares in this hot July, waiting for the brave warriors to answer its call! No battle, no youth! Hosted by LBank and title sponsored by Hokkaidu Inu (HOKK Finance), the first HOKK Cup – LBank Arena of Valor Competition is about to start fighting with warmly sponsorship supporting from DeFi STOA, Gorilla Diamond, Kaka NFT World，DFG，CDI，Basics Capital and LBank loud. This highly anticipated competition has also attracted lots of strategic media partners like Golden Finance, ChainNews, ODaily Vernacular Blockchain, Deep Chain Finance, Chain to Finance, and Ostrich Blockchain, etc. In this hot July,…
-
MASK DAO, the next phenomenal decentralized organization after ConstitutionDAO
The Mask Word decentralized social networking protocol will allow users to own and control their social graph, while avoiding fragmentation among current social network providers and creating an open ecosystem for web participants. The Mask Word team came up with a protocol that uses smart contracts to write and read social network data on a public blockchain. The protocol which defines how identity, social graphs, and messaging elements are represented to create decentralized social networks. The applicable aspects of ownership, privacy, authenticity, portability, usability, and scalability are handled for each elements….
-
Why Bitcoin Is a Better Risk Bet Than a Stack of Penny Stocks
Bitcoin is getting boring at a time when annualized 30-day volatility as of Thursday’s close has seen a sharp downward dip, in a March with its own type of (weather) volatility. Source: CoinDesk Bitcoin Price Index To emphasize the point, have a look at the chart above, which shows the volatility of bitcoin daily returns for the past month. To be fair, I’m employing a little chart crime here, starting the y axis at 40% in order to accentuate the drop between March 24-25, as all but the last days of February have…
-
Crypto Must Apply Safety Lessons of the Existing Financial System
There is a revealing, albeit slightly morbid, maxim that “safety standards are written in blood.” Humans and human-created systems generally tend to be reactive rather than proactive when it comes to developing protective rules. Nevertheless, today’s construction workers and consumers are more shielded from danger than those of the past because we’ve learned from prior mistakes. Rick McDonell was the executive secretary of the Financial Action Task Force from 2007 until 2016. Prior to that, he was chief of the United Nations Global Program against Money Laundering at the UNODC. He…
-
KHC — Redefining Finance
Looking back to 2020, traditional industries have been inflicted heavy losses and the development of global economy has come to a stalemate, even suffered a sharp recession by the pandemic. Therefore, as the representative of a favourable turn, the emergence of DeFi will inevitably become the new star to attract everyone’s attention. Decentralized Finance, DeFi, enables users to access financial services like debit and credit sides, trading and so on without relying on centralized entities such as banks and stock exchanges. DeFi is currently the fastest growing area in blockchain and cryptocurrency…
-
Completing an important ecological footprint, the MSA Foundation is incorporated in the US
On 12 February 2022, the Meta Space Alliance Foundation (MSA Foundation) was incorporated in North America to complement the last ecological footprint of the MSA Meta Space Alliance and to take full responsibility for the MSA’s global operations and outreach. The Foundation is focused on the meta-universe related industries and its business and development path is decided by a vote of the MSA DAO, to whom the Foundation team is elected and accountable, with a rotating CEO. In addition to the immediate impact of the new crown epidemic, which has…
-
Gswap is about to start, supporting cross-chain transactions and multi-scenario applications
The Gswap decentralized application will be officially launched in early March 2022, and the Chinese language entrance will also be opened at the same time. In 2019, PIaytika announced its entry into the blockchain industry and began to conduct research work in the blockchain industry. In May 2020, PIaytika began to deploy the metaverse industry and digitally upgrade the existing industry. Gswap is a decentralized application based on the PK digital ecological wallet on the GS smart ecological chain developed by PIaytika & MET FX. It is planned to run…
-
CoinFans (bi-fans.com) Shenzhen Digital Mining Summit 2021 successfully concluded
On the afternoon of March 17, Beijing time, CoinFans (bi-fans.com) held the “2021 Digital Mining Summit” entitled “Win-win for the future” in Shenzhen. At the meeting, CoinFans CEO James Cao and many other executives attended the meeting. In addition, more than 50 industry elites, customers and strategic partners, including BTC.COM CEO Zhuang Zhong, Antpool co-founder Tian Xin, Shanghai Wayi co-founder Li Peicai, and Guihua Technology co-founder Xiao Guihua, gathered at the summit. At this 500-person summit, James Cao and other well-known companies delivered live speeches and shared the…
-
Money Reimagined: NFTs Can Learn From DeFi’s Growth
This week, you could be forgiven for thinking bitcoin has ceded ground at the epicenter of the crypto zeitgeist to non-fungible tokens (NFT). Bitcoin’s price dropped to its lowest level since March 8, after failing to consolidate gains made on yet another Elon Musk tweet. Meanwhile, NFT stories were everywhere again. Another Beeple art piece sold for $6 million to raise funds for the Open Earth Foundation’s efforts to fight climate change, and both The New York Times and Time Magazine announced sales of their own NFTs. It’s also true that bitcoin continues to attract attention in financial troubled…
-
Reddit Forum WallStreetBets Allows Crypto Conversation, Immediately Re-Bans It
The Reddit forum famous for making GameStop’s (GME) stock price a household topic has banned all discussion of cryptocurrencies less than 24 hours after tentatively allowing a daily discussion thread, with restrictions. WallStreetBets, a subreddit that describes itself as “like 4chan found a Bloomberg terminal,” has long banned cryptocurrency discussion. It lifted this ban on three cryptocurrencies – bitcoin (BTC, -1.74%), ether (ETH, -0.45%) and dogecoin (DOGE, +87.45%) – though it continued banning “crypto spam” on Wednesday, after Coinbase’s direct public listing. On Thursday, the ban was reinstated, citing the deleterious effects of a Bloomberg article. “Due to the article that…
