BTC price could hit $75,000 by year-end
Analysts at Deutsche Bank predict that the price of Bitcoin will remain high even after the recent halving that took place on April 19th.
Deutsche Bank analysts believe that the impact of the halving is already priced into the current price. Approval of spot ETFs for Ethereum, potential interest rate cuts, and regulatory changes could further support the price of Bitcoin in the future.
A Deutsche Bank survey also suggests that cryptocurrencies could become an important asset class and payment method, with some respondents expecting the price of BTC to hit $75,000 by the end of the year.
JPMorgan expects Bitcoin price to fall post-halving
On the other hand, JPMorgan analyst Nikolaos Panigirtzoglou has the opposite view. He expects the price of Bitcoin to fall after the halving, attributing it to overbought conditions and higher BTC prices compared to gold.
JPMorgan also points to weak venture capital funding of crypto projects, and therefore does not expect the price of Bitcoin to rise after the halving.
The JPMorgan analyst even warned of a possible drop in the price of BTC to $42,000 after the halving.
Source:
Deutsche Bank Research. (2024, April 18). Bitcoin Halving Partially Priced In With No Big Rally Expected Afterward. https://www.coindesk.com/markets/2024/04/18/bitcoin-halving-partially-priced-in-with-no-big-rally-expected-afterward-deutsche-bank/
