07/06/2022


Deutsche Bank Analyst Says Bitcoin (BTC) Value Will Continue to Rise

Bitcoin (BTC), the leading crypto asset, is likely to grow in the near future, says chief analyst Marion Labore German Bank (ETR :). The analyst is also the author of The Democratization of Finance – The Radical Promise of FinTech.

In her recent interview with CNBC, Deutsche Bank’s chief analyst gave an overview of the current state of the crypto market and shared her predictions for the price of Bitcoin (BTC) in the near future.

Crypto market needs more regulation

Labour stated that there is definitely a need for more regulation in the industry as public interest in cryptocurrencies increases by the hour. She further emphasized that public financial literacy is alarmingly low, which is leading to some countries simply not being willing to adopt cryptocurrencies on a large scale. “I think we definitely need regulation because, as I mentioned, financial literacy is very low even in advanced economies. We also need more data, and obviously there is a lack of data on cryptocurrencies.”

There will probably be more cash

The recent volatility of the cryptocurrency market is not a new phenomenon. Labour emphasized that such bearish trends have occurred before and traders should understand that this volatility is not going away any time soon. However, the more Bitcoin and other cryptocurrencies are accepted, the more liquidity they will have. With higher liquidity, relativity comes lower, as evidenced by the examples of stocks, gold, and other assets.

“In the case of Bitcoin (BTC), we have a limited supply of 90% of Bitcoin already in circulation, and when you have a shortage of supply with increased demand, prices tend to go up as we have seen last year,” explained Ms. Work. However, the lead analyst suggests that “faith” is a strong word. In her opinion, the price of Bitcoin (BTC) depends a lot on what people think it is worth.

Bitcoin (BTC) price rises to the red after 9 weeks

Record 9 weeks of losses for Bitcoin (BTC) and the crypto community, reminding many of the infamous crypto winter, but BTC managed to rebound to the $30,000 level and is currently trading at $30,435.51 according to CoinGecko. This represents an increase of 3.4% in the last 24 hours and 0.3% in the last week. With the top cryptocurrencies dropping sharply across the board after the (LUNA) and Terra (UST) crash, Bitcoin is finally showing signs of an upward trend and consecutive weeks of losses may end soon.

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