to $20,000 Bitcoin by the end of 2024?

In a report from Deutsche Bank, investors predict Bitcoin at $20,000 by the end of 2024. It is currently trading around $40,000. The fall would be hard.

Since the arrival of spot bitcoin ETFs to the market, bitcoin has continued to decline. As of 11:00 a.m. this Friday, Bitcoin is trading just above $40,000 after approaching $50,000 in mid-January. More and more experts fear a much more severe correction in 2024.

Bitcoin Price Halved?

German bank Deutsche Bank surveyed 2,000 people on the impact of these spot bitcoin ETFs on the market in 2024. According to this study, more than a third of respondents say bitcoin will fall below $20,000 by the end of the year. This is a dark scenario for the price of the queen of cryptocurrencies for 2024. Other forecasts of the impact of spot bitcoin ETFs are much more optimistic: for example, Standard Chartered bank expects bitcoin to hit $100,000 by the end of the year.

Another concern: 42% of respondents expect Bitcoin to disappear in the coming years. In fact, investors remember the turmoil of 2022 when the Terra Luna ecosystem and the FTX exchange crashed, causing Bitcoin to fall to $15,000, moving away from its all-time peak of $69,000 in November 2021.

11 Spot Bitcoin ETFs Verified Jan 10 SEC

As a reminder, before January 10th The SEC has only approved bitcoin futures ETFs (as of 2021), but not spot bitcoin ETFs (spot), while futures contracts are more difficult to manipulate because the market is based on futures prices from the Chicago Mercantile Exchange (CME), regulated by the Commodity Futures Trading Commission (CTFC). On January 10, the SEC approved 11 spot bitcoin ETFs, including asset managers Blackrock and Fidelity.

An ETF (or Exchange Traded Fund) is an exchange-traded index fund that tracks the performance of a stock index (or one or more financial or physical assets such as gold) by replicating both increases and decreases in value. the price of that index (or those assets).

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