BTC may fall to $ 20,000

The financial conglomerate Deutsche Bank has conducted a survey among more than 3,600 US clients about their expectations in the crypto asset industry. According to the results of the study, published by Reuters, more than 30% of respondents expect the market to collapse by the end of 2024, Incrypted writes.

A Deutsche Bank survey showed that 52% of respondents believe in the further development of the crypto industry. In their opinion, in the future, cryptocurrencies will become «an important asset class and payment transaction method.» By contrast, in September 2023, optimistic sentiment prevailed among 40% of clients.

Nevertheless, every third survey participant still expects bitcoin BTC $61,358.32 Bitcoin -0.27% Market capitalization $1.21 trillion VOL. 24 hours $1.89 billion to fall below $ 20,000 by the end of 2024. For comparison, in January, 36% of respondents said this, and in February — 35%.

Meanwhile, only 10% of Deutsche Bank clients in the United States believe that the price of bitcoin will exceed $ 75,000 in the near future. At the same time, the bank’s analysts expect further strengthening of the exchange rate due to bitcoin halving, lower Fed rates, and expectations that the regulator will approve the launch of spot Ethereum-ETFs in the United States.

As a reminder, Skybridge Capital CEO Anthony Scaramucci said that BTC will reach $ 170,000 in this bull cycle, and in the future, bitcoin’s capitalization will be half of the most expensive precious metal’s capitalization. «I'm just saying that bitcoin’s capitalization could reach half of gold’s, which means it will grow six or even eight times from current levels,» the expert emphasized.