Bitcoin below $20,000? Deutsche Bank reveals a grim outlook for the flagship crypto

Bitcoin is currently facing an uncertain period. Some cryptography experts are even making the most alarming forecasts for the coming months. This has shaken the Bitcoin market and elicited mixed reactions regarding the future of the flagship cryptocurrency.

Many Retail Investors See Bitcoin Crashing Below $20,000, Deutsche Bank Survey Finds https://t.co/ZLmrUIhuJD$BTC

— ZyCrypto (@zycrypto) April 9, 2024

Bitcoin’s Drop: Fears are Materializing

The BTC price has dropped by 2.51% in the last 24 hours. This recent fall of Bitcoin has heightened the worries of crypto investors who anticipate an even deeper plunge. This is at least what the Deutsche Bank survey reveals.

According to the report prepared by Deutsche Bank, Bitcoin could experience a drastic fall by the end of the year. We’re talking about a price dropping below the $20,000 mark. This pessimistic crypto forecast is based on the opinions of more than 3,600 American, British, and European consumers.

Such a decrease would represent a significant reduction of $48,821 compared to Bitcoin’s current price. This would bring BTC’s value back to levels seen during the prolonged crypto winter of 2022.

BTC Price: Crypto Outlooks Remain Mixed

During the survey conducted by Deutsche Bank, 40% of respondents were convinced that Bitcoin would continue to thrive. However, 8% anticipated the imminent disappearance of the world’s largest crypto asset.

Another finding: Only 10% of the surveyed people expect the BTC price to reach $75,000 by the end of this year. This is the case for Anthony Scaramucci, founder and managing partner of Skybridge Capital. According to him, the Bitcoin halving (scheduled for April 20) and the success of ETFs are bullish signals for the flagship crypto.

Bitcoin thus finds itself at a crossroads. Between gloomy forecasts and cautious optimism, the future of cryptocurrency remains a hot topic. Stay tuned!