Deutsche Bank analysts forecast a 30% recovery for Bitcoin by December driven by correlation to S&P 500.

Analysts from Deutsche Bank forecast Bitcoin (BTC) rebounding to $28,000 by December 2022 as the cryptocurrency market continues to grapple with gloomy times.

Bitcoin and the wider cryptocurrency markets have endured a tough six months, with the value of BTC, in particular, enduring its worst quarter in 10 years. Macroeconomic conditions around the world have played a role, with stagnating markets and fears of inflation driving conventional stock markets and their crypto-counterparts down to painful lows.

A report from Deutsche Bank analysts Marion Laboure and Galina Pozdnyakova provides an interesting perspective on the medium-term outlook for BTC. Their insights suggest that cryptocurrency markets have mirrored movements of the Nasdaq 100 and S&P 500 since late 2021.

Source: https://cointelegraph.com/news/deutsche-bank-analysts-see-bitcoin-recovering-to-28k-by-december