Analysts at Deutsche Bank believe that bitcoin will rise to $28,000 before the end of this year, based on the fact that since last November, cryptocurrencies have shown a close relationship with the Nasdaq 100 and S&P 500 stock indicators.
The S&P Index is forecast to recover to its early 2022 levels before the end of this calendar year, with Bitcoin also following suit.
Interestingly, analysts at Deutsche Bank compare Bitcoin not to gold at all, but to diamonds, an asset that is in high demand. At one time, the international corporation De Beers, which is engaged in the mining, processing and sale of natural diamonds, was able to change the attitude of users towards diamonds with the help of a well-designed advertising campaign.
The diamond industry is now valued at $72 billion and De Beers has dominated it for 80 years. A similar strategy applies to bitcoin.
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Source: IXBT
