Bitcoin Could Soar Over 40% by Year-End; Here Are 3 Stocks That Stand to Benefit
4/7 01:52
Bitcoin might have cemented its status as “digital gold,” but one other widely touted purpose has yet to properly play out. The daddy of crypto is supposed to be a hedge against inflation but recent times have shown that soaring inflation has not provided a tailwind. In fact, Bitcoin's performance has followed the lead of the equity market, and mirroring the wide downturn in 2022, bitcoin’s price has tumbled over 70% since peaking last November.
That said, the “death of bitcoin” has been announced countless times before and one thing bitcoin has been adept at doing over its decade-plus history is bouncing back eventually.
While Deutsche Bank's Marion Laboure does not anticipate last year’s peak to be achieved over the near-term, using S&P 500 stocks as a reference, and factoring in the effect of higher interest rates, the senior strategist believes that by the end of the year, bitcoin’s price could climb back up to $28,000 – a 45% increase from current levels. And where the BTC price goes, so do the prices of stocks operating in its ecosystem.
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