Bitcoin Price Could Explode By The End Of 2022

It’s been revealed that the price of Bitcoin could explode by the end of 2022. Check out the latest reports about the price of the coin.

Experts at Deutsche Bank have recently said that the Bitcoin price might explode soon and this could happen by the end of this year.

According to a new BNN Bloomberg report, Deutsche analysts Marion Laboure and Galina Pozdnyakova note that Bitcoin’s chart patterns are looking similar to traditional stock markets.

Their prediction that the S&P 500 will recapture January levels means BTC could climb back to $28,000.

The analysts also made sure to add the fact that the digital assets are more like diamonds than gold, noting the successful branding done by the De Beers corporation.

“By marketing an idea rather than a product, they built a solid foundation for the $72 billion-a-year diamond industry, which they have dominated for the last eighty years.”

He continued and said the following:

“What’s true for diamonds, is true for many goods and services, including Bitcoin.”

Laboure and Pozdnyakova conclude by warning that it’s not guaranteed BTC will rally due to the complex and non-traditional nature of cryptos.

“Stabilizing token prices is hard because there are no common valuation models like those within the public equity system. In addition, the crypto market is highly fragmented. The crypto freefall could continue because of the system’s complexity.”

At the moment of writing this article, BTC is trading in the red and the king coin is priced above $19k.

According to the latest news, the insights platform CryptoQuant CEO Ki Young Ju says crypto investors did not leave the market despite this year’s downturn.

According to Ju, the current dip that sent Bitcoin (BTC) plunging below $20,000 from an all-time high of nearly $70,000 can be considered the crypto market’s first recession, as noted by the online publication the Daily Hodl.