Deutsche Bank: Bitcoin price will recover to $28,000 by the end of the year

Bitcoin price could recover to $28,000 by the end of 2022, according tospecialists of Deutsche Bank.reports Bloomberg.

According to the bank's strategists Marion Labour and Galina Pozdnyakova, the growth will be associated with a rally in the US stock market.

Experts drew attention to the fact that since November, cryptocurrencies have become more and more correlatedWith the Nasdaq 100 and S&P 500 indexes, they believe these benchmarks will recover to January levels by the end of the year, pulling bitcoin with them.

At the time of writing, the price of the first cryptocurrency has fallen below $20,000 and is testing the $19,000 mark.

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Deutsche Bank strategists believe that the arguments infavor of bitcoin as "digital gold" fell apart. Cryptocurrency did not become a safe haven amid falling stock markets, physical gold “behaved better” in this regard.

Rather, bitcoin is like diamonds - "high-marketasset”, based mainly on marketing, noted Lyabur and Pozdnyakova. They recalled that in the 1950s, the largest player in the market, De Beers, managed to change consumer attitudes towards precious stones with an advertising campaign.

“By selling an idea, not a product, they have built a solidthe basis for the $72 billion a year industry that has dominated the past 80 years. What is true for diamonds is true for many goods and services, including bitcoin.”, the experts said.

They also pointed to some of the issues that have plagued the digital asset market in recent weeks, including the financial insolvency of some hedge funds and crypto lenders.

Experts believe that the recovery of the crypto market is hampered by the “lack of common valuation models similar to those that exist in the public capital system.”

“In addition, the crypto market is highly fragmented. The fall may continue due to the complexity of the system.”, Deutsche Bank strategists added.

However, according to Arcane Research researchers, the downside potential for Bitcoin's price remains at $10,350.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest crypto exchange in the world is Binance. The platform supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bitget	https://bitget.com	7.8
3	Huobi	https://huobi.com	7.2
4	AAX	https://aax.com	6.9
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services&#8212; futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.