As Deutsche Bank’s chief credit strateigst, Jim Reid, writes, “central banks have driven us here and in turn have also driven Bitcoin to the spectacular year.”
It’s also why in an addendum to his latest monthly survey, Reid explicitly asked Deutsche Bank’s clients around the globe where they thought bitcoin would end 2021.
Here are the answers: a vast majority think it goes higher with only 27% thinking under $20,000 in 12 months. 41% think between $20-49,999 in various buckets with 12% thinking over $100,000.
On an average basis, survey respondents think it will be over $40,000 by then, nearly double current levels.