Bitcoin Below $20,000 By The End Of The Year? At Least That’s What Deutsche Bank’s Clientele Thinks

A survey conducted by Deutsche Bank reveals that approximately 30% of its clients anticipate Bitcoin (BTC) to end the year 2024 with a value under $20,000.

This survey gathered opinions from the bank’s clientele across the UK, Eurozone, and the US, highlighting that more than 30% of them foresee a downturn for BTC by the end of this year.

Despite The Help From Bitcoin ETFs, Most Of The Clientele Is Still Pessimist

Approximately 15% of Deutsche Bank’s customers in the United States believe that Bitcoin could end the year surpassing the $75,000 mark, representing the majority viewpoint for this specific forecast.

This perspective among American investors appears divided, especially after the introduction of spot Bitcoin exchange-traded funds (ETFs) in January caused a significant stir in the market.

CoinShares, an asset management company, has disclosed in its most recent crypto funds flow report that the U.S. leads in investment in these financial products, with an impressive sum exceeding $14 billion invested in 2024 alone. A considerable portion of this substantial investment influx is attributed to the Bitcoin ETFs.

The excitement generated by the introduction of spot Bitcoin ETFs is credited with driving Bitcoin’s value to a record peak of $73,737.94, marking a 67% increase from its price at the start of 2024. The anticipated Bitcoin halving event is expected to further boost its value within the year.

Despite some skepticism, a notable 40% of those surveyed express a belief in Bitcoin’s long-term viability, whereas 38% predict its eventual fade from prominence. Remarkably, less than 1% regard the cryptocurrency phenomenon as merely a fleeting trend.