Analysts from Deutsche Bank express their views on Bitcoin price predictions at the end of 2022. According to him, Bitcoin will finish the year at $28,000.
Deutsche Bank Analyst Predicts Bitcoin $28,000
According to Deutsche Bank analysts Marion Laurie and Galina Pozdnyakov, Bitcoin will appreciate 30% to a price of around $28,000 to $30,000 by the end of 2022.
Both analysts stated that the correlation is getting stronger with technology stock indexes in America’s Nasdaq 100 and the S&P 500 stock index are the reasons behind the potential small appreciation Bitcoin may have by the end of the year.
They stated that the S&P 500 has an appreciation potential that will drive the Nasdaq 100, which could be the driving factor that makes the crypto market move up.
In predictions, the two analysts also made statements regarding the current state of Bitcoin as an asset.
They stated that crypto, especially Bitcoin, is currently valued by the market like diamonds, not gold. So its power to protect wealth is considered to have been lost.
The statement is based on losses this year when the price moved lower than American stocks.
Finally, the two analysts also stated that stabilizing crypto prices is difficultbecause there is no standard valuation model for crypto, unlike capital markets.
They also warned of the potential for further price corrections for Bitcoin and crypto due to “system problems” that created many “splits”.
Bitcoin Price Condition
For now, Bitcoin seems to be trying to recover after experiencing a significant correction and has dropped below $19,000.
This correction was allegedly due to the rejection of the Bitcoin Spot ETF, the liquidation of several large companies such as Three Arrows Capital, and the warning of high inflation from the Central Bank of America.
Based on the MVRV Z-Score on-chain data, it appears that Bitcoin is already moving in its bottom zone, so there is a possibility of $20,000 being a solid safety cap. However, this movement still needs to be observed further because there will be an announcement of inflation data and benchmark interest rates in July 2022. Then based on the chart above, there is still the potential for Bitcoin prices to fall because the lower limit zone is around the $10,000 area.
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