HomeCrypto NewsBitcoinDeutsche Bank Analysts Think Bitcoin to $28K...

Deutsche Bank Analysts Think Bitcoin to $28K in December

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Deutsche Bank analysts forecast Bitcoin to recover 30% in December due to its correlation with the S&P 12.

Bitcoin has to go through six months difficult, endure worst quarter in 10 years ago

Macroeconomic conditions around the world have played a part, stalled trade and inflation fears have fueled strong bear markets.

One report from Deutsche Bank analysts Marion Laboure and Galina Pozdnyakova provide an interesting perspective on the medium-term outlook for BTC. 

They argue that the crypto market has mirrored the movements of the Nasdaq 100 and S&P 500 since late 2021.

The pair believe that the S&P will recover back to January levels and Bitcoin's correlation with the index could lead to value up 30% from current levels in mid-2022.

This will bring BTC back to the mark 28.000 dollars.

One note from JPMorgan suggests that the crypto ecosystem may have recovered. While hedge funds Three Arrows Capital default, other funds in the industry have supported the ecosystem.

The note also highlights the amount of venture capital investments in crypto companies over the past two months – up to 5 billion dollars. This represents a $3,4 billion increase over the same period in 2021.

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