Retail's Bitcoin Price Prediction By End Of 2024: Below $20,000, But Technical Analysts See 'Run To $48K-50K'
Portfolio Pulse from Khyathi Dalal
A Deutsche Bank survey found that 39% of retail investors expect Bitcoin's price to drop below $20,000 by the end of 2024, despite its recent rise to $43,000. Technical analysts, on the other hand, are bullish, with predictions of a run to $48,000-$50,000. Retail sentiment is bearish, with 42% expecting Bitcoin to disappear, and two-thirds having little understanding of digital assets. Technical analysts like Pentoshi and Michaël van de Poppe maintain a bullish outlook, citing crypto's past performance and social impact. Google's new policy on Bitcoin ETF ads could increase retail exposure to cryptocurrencies.
January 29, 2024 | 11:31 pm
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Retail investors are bearish on Bitcoin, expecting a drop below $20,000 by 2024, while technical analysts predict a bullish run to $48,000-$50,000. Google's new ad policy could increase retail exposure and potentially impact Bitcoin's price.
The conflicting views between retail investors and technical analysts create uncertainty in Bitcoin's short-term price direction. Retail sentiment is a significant factor, but analyst predictions and increased exposure through Google's ad policy could counteract bearish trends.
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IMPORTANCE 75
RELEVANCE 100