According to analysis published by Deutsche Bank's Marion Laboure and Galina Pozdnyakova, the leading cryptocurrency will rise to $28,000 by the end of the year, gaining about 40 percent from its current price of $20,035.

Laboure and Pozdnyakova expressed their confidence in their Bitcoin predictions as the world's largest cryptocurrency has been heavily correlated with the Nasdaq 100 and S&P 500 since November 2021. Analysts noted that traditional financial instruments will rise to their January levels in the coming months, while Bitcoin will follow closely to reach $28,000 by the end of the year.

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According to analysis published by Deutsche Bank's Marion Laboure and Galina Pozdnyakova, the leading cryptocurrency will rise to $28,000 by the end of the year, gaining about 40 percent from its current price of $20,035.

Laboure and Pozdnyakova expressed their confidence in their Bitcoin predictions as the world's largest cryptocurrency has been heavily correlated with the Nasdaq 100 and S&P 500 since November 2021. Analysts noted that traditional financial instruments will rise to their January levels in the coming months, while Bitcoin will follow closely to reach $28,000 by the end of the year.

Deutsche Bank

Bitcoin saw a significant percentage of its value break beyond expectations as it hit an all-time high of $69,047. With BTC hitting $69,000 in November, many experts predicted that the asset class would easily reach $100,000 in a few months, as things seemed to be going in favor of financial instruments at the time. Unfortunately, Bitcoin went against these predictions and has fallen by more than 71 percent since hitting an all-time high last year. A number of factors, including rising inflation and the collapse of Terra, were listed as the reasons why Bitcoin's value fell drastically.

Dubbed by many as a hedge against inflation, Bitcoin (BTC) failed to provide investors with a safe haven in the ongoing economic crisis. While Deutsche Bank's analysts see BTC at $28,000 by year-end, the forecast isn't even close to 50 percent of the asset class's previous all-time high of $69,000.