Deutsche Bank: Bitcoin rate will rise to 28 thousand dollars in December this year

Deutsche Bank: Bitcoin rate will rise to 28 thousand dollars in December this year

Deutsche Bank analysts said in a commentary to Bloomberg that the cryptocurrency market is “extremely fragmented. But at the same time experts believe that by the end of the year there will be a rebound, after which the rate of BTC will reach $28 thousand.

To support their thesis analysts cited a real example from the world of business – the company De Beers, a major player on the diamond market. It changed the consumer perception of its product, which led to a surge in demand.

“They were busy promoting the idea itself, not the product. In this way the company laid a solid foundation for the entire industry worth $72 billion. And because of that, De Beers has dominated this market for 80 years. This is true not only for diamonds, but also for other goods, including bitcoin,” experts said.

However, Marion Laboure and Galina Pozdnyakova also urge investors to be careful. In their view, the market for digital assets is now “extremely fragmented,” and the rate of major assets may go down in the short term.

But by the end of the year there will be a rebound. According to analysts, the price will grow by 30% on average up to 28-29 thousand dollars. Note that at the time of writing, BTC is trading at 19,261.9 USD (-3.7% per day).

This month, bitcoin’s price has sagged to $18,000. This is beyond the lower end of the S2F model from analyst PlanB. According to CoinShares experts, the reason for such a fall is the withdrawal of significant capital by one of the major holders.

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