Bitcoin will fall below $20,000 by the end of the year, a third of consumers say in Deutsche Bank survey

A third of people expect bitcoin to implode to below $20,000 by the end of the year, while only 10% expect it to surpass $75,000.

That was the verdict of a Deutsche Bank survey of 3,600 people in March, with 38% of respondents saying the cryptocurrency king will trade at around $50,000 by the end of the year, Bloomberg reported.

About 40% of participants had a positive long-term outlook and believe that the value of the leading cryptocurrency will increase in the coming years, but 38% expect it to disappear.

bitcoin Supporters Argue Lawsuit Will Drive btc Price Up

A wave of capital has flowed into spot bitcoin ETFs (exchange-traded funds) since the investment products launched in the US in January. That led banking giant Standard Chartered to predict that btc could soar to $200,000 as a result of increased demand and simultaneously decreased supply following bitcoin's halving this month.

Standard Chartered also said that btc ETFs they could collectively inject 100 billion dollars in the cryptocurrency market in the next two years.

Arthur Hayes warns of sharp drop in cryptocurrency prices

Co-founder of BitMEXThur Hayes, on the other hand, believes that prices in the cryptocurrency market could fall around the time of the halving. This is partly because there will be less cash available for riskier asset classes, such as cryptocurrencies, due to tax payments due between April 15 and May 1, he said in a statement. blog entry.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”5.6968085106383″>

“Heatwave” is an essay on why I am bearish despite the recent bullish movement in twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto markets.https://t.co/gZ8Vl1uC04 pic.twitter.com/fH6docB499

—Arthur Hayes (@CryptoHayes) twitter.com/CryptoHayes/status/1777524500872966230?ref_src=twsrc%5Etfw”>April 9, 2024

With the halving coming at a time when dollar liquidity is tighter than usual, Hayes warns of a “crypto asset sell-off” later this month.

Still, he is only bearish in the short term and expects the bitcoin bull market to begin again in earnest in May.

Related Posts:

Smog (SMOG) – Meme Coin with Rewards

• First Airdrop Season Available Now
• Earn XP to qualify for a share of $1 million
• Featured on Cointelegraph
• Staking Rewards: 42% APY
• 10% discount on free sale – smogtoken.com