Bitcoin Will Return to $28K — Deutsche Bank
Deutsche Bank specialists believe that the price of Bitcoin can recover to $28,000, but not earlier than by the end of 2022.
According to bank strategists Marion Lyabour and Galina Pozdnyakova, the growth of the Bitcoin rate will be associated with a rally in the US stock market, Bloomberg reports.
Experts have noticed that since November, cryptocurrencies have been increasingly correlated with the Nasdaq 100 and S&P 500 indices. They believe that these benchmarks will recover to January levels by the end of the year, stretching Bitcoin along with them.
According to experts, the recovery of the crypto market is hindered by “the lack of common valuation models similar to those existing in the public capital system.”