Deutsche Bank sees Bitcoin at $28K! Is 40% rally possible amid slumber?

economictimes.indiatimes.com:

Deutsche Bank have forecasted a strong upside in the Bitcoin by the end of the current calendar. The International lender has a target of $28,000 for Bitcoin, signaling an upside of 40 per cent the largest crypto token. Bitcoin saw the April-June 2022 period as the worst quarter in the last one decade, thanks to deteriorating macroeconomic conditions across the globe. The report from Deutsche Bank provides an interesting perspective on the medium-term outlook for Bitcoin and suggests that cryptocurrency markets have mirrored movements of the Nasdaq 100 and S&P 500 since late 2021.

Did you Know?

In the wake of the crypto market crash, the prices of hardware used to support the mining of crypto assets are also falling dramatically. For example, a high-end graphic card is now almost 45% cheaper compared to its price a few months ago.

However, other experts have mixed opinions on it, whereas others believe that the largest crypto asset is headed for more pain before scripting a solid recovery. Yunometa's founder Arijit Mukherjee seconds the thought, considering that the crypto industry is close to bottoming out. There are short-term headwinds that will impact the growth of Bitcoin and investors will factor them in the near term. On the other hand, Mohammed Roshan, Co-Founder and CEO, GoSats. believes the same, but he sees more pain in the near term before a sustainable rebound supported by strong momentum. Interestingly, Bitcoin has received a strong backing from numbers of crypto enthusiasts and veterans across the globe, who have tagged it worth $100,000 or $150,000 levels in the next few years. Though such commentary might appear flabbergasting at current point in time, many experts do buy the