According to a survey conducted by Deutsche Bank from January 15 to January 19, the majority of respondents expect further declines in the price of Bitcoin. The survey involved 2,000 individuals in the United States, the United Kingdom, and the European Union, primarily focusing on their views on Bitcoin prices and volatility.
The survey revealed that over one-third of respondents believe that Bitcoin will fall below $20,000 by January of next year. Meanwhile, around 15% of respondents anticipate that by the end of this year, Bitcoin's price will be between $40,000 and $75,000.
Deutsche Bank analysts Marion Labore and Cassidy Ainsworth-Grace explained in the report that the introduction of new spot Bitcoin ETFs is expected to broaden institutional access to Bitcoin. However, they noted that a significant portion of ETF funds comes from retail investors.