Deutsche Bank predicts upside on Bitcoin; what do others think?
— Predicted, Bitcoin might hit, Alarm, Commonly associated, Reputation, Rebound soon, Gold, Threat, Promoting, Uncertainty — 1 min read
Deutsche Bank is optimistic about the prospects of Bitcoin, the largest cryptocurrency by market capitalization. The Wall Street heavyweight also compared Bitcoin’s prospects to the $72 billion diamond market. Bitcoin's reputation as an asset that performs similarly to gold in times of uncertainty has suffered as its price has fallen in response to rising inflation and the threat of a worldwide recession. Deutsche Bank experts warn that the crypto market slump could last for some time due to "system complexity" and a lack of "value models" following Bitcoin's recent drop below $20,000, the sentiment in the crypto markets is gloomy. Some experts, like Peter Schiff, are predicting that more pain is to come for crypto investors as they are racing to withdraw their funds from exchanges. Source