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
-
If you don’t want to miss out on Chia, then get on board with XC2 -and work to build consensus and value for Chia’s eco-development
2021was the year of the blockchain, with many coins surpassing theirall-time highs. In addition to the global economy and the impact ofthe epidemic, the bull market was fuelled thanks to the hot conceptsof Defi, NFT and Filecoin. Meanwhile Chia came out of nowhere andtook the blockchain scene by storm. Chiais a global open source decentralised network based on proof of timeand space, dedicated to creating a greener, more decentralised andsecure cryptocurrency. In Chia’s network there are no miners, nomining, but farms, farmers, seeding. By introducing a new consensusmechanism, Pos+Pot,…
-
SYW Coin Launching Mainnet, Realizing Global Circulation
Recently, something great happened within blockchain network. SYW coin completed the deployment on the ETH public chain and successfully launched the mainnet. This means that SYW has successfully realized global circulation and can be transferred in any blockchain networks. From now on, global investors can freely purchase or sell SYW coins. As a blockchain 2.0 application network, ETH’s related ecology has attracted the attention of many blockchain users and cryptocurrency owners. Ethereum holds the vast majority ofr DeFi protocols and stable coins. Due to its characteristics of having stable…
-
In 50,000 metaverse games, this one has the greast possibility to be the KING!
BTC was born to be the “leader” of the blockchain, but the “leader” of GAMFI has not yet been determined. With the advent of metaverse, ordinary GAMFI games are suffering an eclipse. There is no doubt that if there is a project that leads the metaverse field, it will be the king to control this arena! Science fiction movies such as “Ready Player One”, “Free Guy”, and “The Matrix” introduce us the concept metaverse, which has been predicted by many giant technology companies to be the next BIG THING. The term Metaverse comes from Neil…
-
The dark horse of the decentralised storage industry, crushing the FIL, what is the MACCion FIL II all about?
MACcoin FIL II, invested by Stanford University and Yale University’s investment advisor, is about to start mining, and has already received investments from Slow, Collab Crypto, IDEO and Naval RavikantToken Titan (Titan Capital), HWLLO CAPITAL (Haru Capital), HONGLIAN CAPITAL (Red Chain Capital) NEXT BLOCKCHAIN CAPITAL (NBC Capital), EFUND, Sky Chain Capital and other institutional investment. Becoming a file coin miner is an opportunity for community members to help store and preserve access to humanity’s most important information. By providing network security and infrastructure, MACCion FIL II miners help to build…
-
Major Australian ‘Buy Now Pay Later’ Firm May Offer Crypto Trading: Report
One of Australia’s largest buy now, pay later companies is reportedly looking at a move into stock and cryptocurrency trading. According to a report by the Wall Street Journal on Tuesday, Zip Co.’s co-founder Peter Gray said his company was looking at providing trading services through its native app in a bid to further engage its typically young consumers. The co-founder did not specify when the offering would launch or whether services for stocks would be released before cryptocurrency. Instead Gray suggested Zip would first roll out the services to its U.S….
-
DeFi Major Aave Working With Polygon to Bypass Ethereum Congestion
Decentralized finance (DeFi) firm Aave is working with Ethereum layer 2 Polygon to address the congestion currently experienced on the second-largest public blockchain. Announced Wednesday, Aave will be exploring scalable sidechains with Polygon (formerly known as Matic) to escape the high transaction fees that currently exist on Ethereum. Aave says it will use a soon-to-be available smart-contract bridge that will seamlessly port assets from one network to the other. The “DeFi Summer” of 2020 has not really slowed down, with close to $43 billion currently locked within DeFi lending platforms. Built…
-
Security Token Startup Founder Arrested on Sexual Assault Charges, Toronto Police Say
The founder of a security token startup has been arrested on charges of sexually assaulting a minor, Canadian authorities said. Trevor Koverko, former CEO of Polymath, was taken into custody on March 14 by Toronto police, a spokesperson for the department, Caroline de Kloet, told CoinDesk Wednesday. He has apparently deleted his Twitter. Koverko has been charged with “sexual interference with a person under 16 years of age” (Section 151 of Canada’s Criminal Code) and “sexual assault” (C.C. 271), said de Kloet. Chris Housser, Polymath’s other founder and interim CEO, said Koverko resigned from…
-
Market Wrap: Bitcoin Trades Well Above $50K, While Ether Outperforms on NFTs, July’s Upgrade
Bitcoin (BTC) trading around $51,800.08 as of 21:00 UTC (4 p.m. ET). Climbing 3.48% over the previous 24 hours. Bitcoin’s 24-hour range: $49,390.18-$51.982.31 (CoinDesk 20) BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians. Bitcoin trading on TradingViewSource: TradingView Bitcoin’s price in recent weeks has retreated from February’s all-time highs, declining alongside U.S. stocks as investors grew increasingly concerned rising U.S. government bond yields might prompt the Federal Reserve to tighten monetary policy, curtailing the easy-money era that has boosted risky assets from…
-
Why Bitcoin Is More Like a $100 Bill Than Gold
This week, two developments point toward continued interest in bitcoin as a medium of exchange, the reason the “commerce on the internet” meme may be more accurate than the “digital gold” narrative. One of the developments is the debut of a service allowing use of Lightning – a protocol built to scale transactions on the Bitcoin blockchain – for payments with online merchants that use the Visa network. The company behind the service is called Moon, and it uses a similar mechanism to that used by other bitcoin commerce startups, such as Fold. The…
-
Don’t Follow the Suits, Follow the Weirdos
Cryptocurrency was invented by a guy who liked message boards. Then a young developer who thought decentralization could go even further kicked off a world computer with a white paper and some emails. The big wins in crypto are going to come from the punks, the hippies, the malcontents and the contrarians. What I’m saying is: In this very bullish season, don’t be enraptured by the suits. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here. We see the…
