News - Bitcoin at 20,000? This is how pessimistic German consumers are, according to a survey

By Mike Hesp

Bitcoin at 20,000? This is how pessimistic German consumers are, according to a survey

Bitcoin (BTC)
Price update

Deutsche Bank conducted a survey on Bitcoin. The conclusion: dismal. One-third see digital gold crashing this year.

Deutsche Bank asked its customers about the future price of Bitcoin. The outcome: dismal.

One-third expect Bitcoin to fall to $20,000 by the end of the year. Only a tenth believe it can hold the $70,000 mark.

In both cases, 40 percent think Bitcoin will continue to grow or disappear from the public consciousness in the coming years.

Deutsche Bank surveyed 3,600 people for this purpose.

BTC is currently trading at $70,000 with a market capitalization of $1.4 trillion. This makes it one of the most valuable assets in the world.

Bitcoin ETFs in particular have performed strongly in recent months. Eleven applications were approved in January 2024, including one from BlackRock. The world's largest asset manager is buying BTC in record amounts. Bitcoin ETFs will soon be launched in Hong Kong as well.

Halving is also expected next week. Every four years, the rewards miners receive for mining Bitcoin are halved.

In the past, almost every halving correlated with a sharp rise in the price of BTC, usually a few months later.

Bitcoin closed February 2024 with the strongest price increase ever.

Strongest streak, first month close at $70,000 and an all-time high before halving: BTC celebrated three records in March 2024.

Forecasts for April range between $62,000 and $90,000.

In fact, this early bitcoiner sees digital gold at $500,000. And has good arguments for doing so.

Another rather pessimistic assessment: one analyst believes the bull market over four months can be over again.

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