Deutsche Bank Says 52% of Its Investors Expect Bitcoin Below $60K in 12 Months

BTC upside is limited, and could halve in twelve-month's time, according to Deutsche Bank survey.

AccessTimeIconMar 24, 2021 at 2:31 p.m. UTC
Updated Sep 14, 2021 at 12:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

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.
Chart shows a majority of investors surveyed expect BTC below $60K.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.