Analysts Marion Laboure and Cassidy Ainsworth-Grace explained that the halving event, which reduces the reward for adding new blocks to the Bitcoin network, has already influenced market participants’ behavior due to their awareness of the impending event.
Deutsche Bank believes that the price of Bitcoin will soon enter a state of flat, where its value remains relatively stable without significant increases or decreases. This prediction is based on the anticipation of the launch of spot ETFs on ether and the reduction of the key interest rate by the US Federal Reserve.
“We expect the price of Bitcoin to remain at its current level. Our reasoning includes the upcoming launch of spot ETFs on ether and the US Federal Reserve’s reduction of the key rate.”
While Deutsche Bank analysts do not anticipate drastic price fluctuations for Bitcoin, they are confident in the continuous development of the Bitcoin ecosystem and the cryptocurrency industry as a whole.
Recently, Deutsche Bank conducted a survey with over 3,600 bank clients from the USA, Great Britain, and the European Union. The survey revealed that only 10% of participants are confident in the BTC price exceeding $75,000 by the end of 2024.</p