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

Deutsche Bank Analysts Think Bitcoin to $28K in December

- Advertisement -

 

 

- Advertisement -

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.


See more:

Rate this post
- Advertisement -

Maybe you are interested

Major corporations invest $6 billion in blockchain startups

Forty top corporations have invested around $6 billion in blockchain startups since September...

Luxury resorts in Maldives and Thailand accept crypto payments

Luxury resort chain Soneva has started accepting cryptocurrency payments at its resorts...

Cryptocurrency market has more than 700 new coins in the 3rd quarter of 2022

The cryptocurrency market has significant volatility in 2022, yet developers are still trying to launch...

More than 75% of financial institutions intend to use crypto in the next three years

More than 75% of financial institutions will join the crypto universe in the next three years if the sector...

India Investigate 10 Cryptocurrency Exchanges For Laundering Over $125 Million

India's Enforcement Directorate is conducting an investigation across ten exchanges into the laundering of more than...

Related posts

- Advertisement -