Deutsche Bank’s investor clients mostly see limited upside in bitcoin (BTC) this year and expect a decline towards $20,000-$40,000 in 12 months. Those are the highlights of a monthly market survey conducted by the German lender March 18-22 of 520 market professionals around the world.

Bitcoin has been trading in a sideways range over the past week after failing to sustain an all-time-high around $61,000 reached earlier in the month.

  • The 12-month BTC price forecast is more evenly distributed versus the three-month forecast, though a majority (52%) of respondents see prices under $60,000.
  • The most common predicted range for bitcoin prices in three months was between $60,000 and $80,000, expected by some 36% of respondents.
  • 69% of respondents think bitcoin is more likely to fall by half in 12 months, compared to 65% in February. BTC rallied by roughly 80% from February to March.
  • Only 23% of respondents said they had ever bought bitcoin for their personal investments. Just over 40% of respondents under 35 have bought bitcoin compared to just 13% of those over 55.
Chart shows a majority of investors surveyed expect BTC below $60K.
Source: Deutsche Bank Research
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