Since the introduction of spot crypto exchange-traded funds (ETFs) in the United States, the value of Bitcoin (BTC) has dropped by more than 20%.
This was evident in the recent drop in BTC’s value below $39,000, although it was able to recover its position on Wednesday night.
According to a survey conducted by Deutsche Bank, approximately 30% of investors anticipate a further decrease in Bitcoin’s price over the next 12 months.
This group of respondents predicts a drop below $20,000 by early January 2025. In the past two weeks, BTC’s value has decreased by almost $10,000 after reaching a local high of $48,700, as reported by Bloomberg, citing a study from the German bank.
The survey involved 2,000 investors from the United States, Great Britain, and the European Union. About 15% of the participants stated that they believe Bitcoin’s price will be in the range of $40,000 to $75,000 by the end of 2024.
