Bitcoin is now "too important to ignore", says Deutsche Bank [Today!]

[janggernaut]

With bitcoin marketcap surpassed $1trillion and still stay above that for several days, Deutsche Bank analysist said like that.

Deutsche Bank Research, the financial research subsidiary of global banking giant Deutsche Bank, issued a report devoted exclusively to Bitcoin, titled “The Future of Payments: Series 2 Part III. Bitcoins: Can the Tinkerbell Effect Become a Self-Fulfilling Prophecy?”

In the 18-page study, Deutsche Bank Research describes the basic characteristics of Bitcoin and analyzes the key drivers of its historical price growth to a $1 trillion asset.

Deutsche Bank analysts suggested that the Bitcoin price “could continue to rise” further as long as asset managers and companies continue to enter the market. The firm emphasized that central banks and governments now “understand that Bitcoin and other cryptocurrencies are here to stay” and thus are expected to start regulating them by late 2021.

https://cointelegraph.com/news/bitcoin-is-now-too-important-to-ignore-deutsche-bank-says


We do know on yesterday Fed and Morgan Stanley also "pro" with bitcoin, with so many huge Bank supporting bitcoin (https://www.google.com/amp/s/www.cnbc.com/amp/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html)

What will be happen next with Bitcoin?

[posi]

Alot of banks have been advised by a novelist (which I don't remember his name now) last year during the total lockdown that they should see Bitcoin as the way through the economic meltdown and pandemic season but they turn the deaf ear.
It is good that they now know what they are missing and I read Morgan now allows wealthy people to invest in Bitcoin through their service.
Despite all this good news. What will happen next to Bitcoin is still now certain but through this bullish season is going to be a blast.

[suzanne5223]

Right from the creation of Bitcoin, it already an important subject which the Banks need to integrate but they were too busy with what will be their loss in terms of money making while the government is concern about the centralization.
The IMF Boss has said already that fiat is losing it, they should support digital currency and not even at this moment that people spent 6hours to make cross border payment they (banks) will dare ignore Bitcoin.
Pandemic does show the potential of Bitcoin.

[Lucius]

I remember another German bank (I can’t remember the exact name) writing a report maybe 1 year ago in which they predicted a BTC price of some $90 000 roughly. We should not be surprised that DB expresses itself so positively when it comes to BTC, because they have their own interest in it, just a little scratch under the surface and there is the next article -> Deutsche Bank Quietly Plans to Offer Crypto Custody, Prime Brokerage.

Yet only a few years ago they considered Bitcoin a threat, but now they have obviously changed their minds - the main reason is of course the price of BTC and the profit they can make if they start providing services with crypto. -> Deutsche Bank: Bitcoin is One of the Greatest Market Threats in 2018

[masterzino]

Yet, at the same time, the EU is preparing one of the strictest crypto regulations in the world.

If accepted, I think the EU will leave behind with crypto startups and later will apologize as it's now the situation with semi-conductors. Will see.

[traderethereum]

With the growing of bitcoin now makes people or a company do not want to ignore bitcoin and let the chance to invest in bitcoin.
Maybe the company already research the advantage and disadvantage of bitcoin, so they finally invest in bitcoin before the price hit the next highest price.
The next thing that can happen to bitcoin is the price can increase furthermore and break the highest price while many people will see the power of bitcoin and make them invest in bitcoin.
But they are too late to invest in bitcoin because the price already increases so high, although they can still invest in bitcoin in a small amount.
That is lucky for people who already adopt and use bitcoin as their investment.

[orions.belt19]

Is this really an indication that the Big banks will be more accepting towards Bitcoin?

I think they have resigned to the fact that there will be increasing demand for Bitcoin. With Paypal, Mastercard and Visa plus surveys showing that many retail investors are interested in buying bitcoin, even wanting to use up their stimulus checks on crypto. This is something they can't avoid and they'll just be run over if they keep on evading. Demand is coming and adoption is slowly creeping in. It's only a matter of time when their consumers will start demand for bitcoin or crypto products otherwise they'll just venture elsewhere.

[jossiel]

They've come to realize it now because there are huge companies that are coming in and some governments that are in favor of it but the counterpart is to regulate transactions that happens inside their country.

Is this really an indication that the Big banks will be more accepting towards Bitcoin?

Not that really but more banks would come to have their own service but first, they're likely to buy chunks of bitcoin and might treat it as their bitcoin reserve supporting whatever service that they might come to it that's related to bitcoin.

[tippytoes]

They've come to realize it now because there are huge companies that are coming in and some governments that are in favor of it but the counterpart is to regulate transactions that happens inside their country.

Is this really an indication that the Big banks will be more accepting towards Bitcoin?

Not that really but more banks would come to have their own service but first, they're likely to buy chunks of bitcoin and might treat it as their bitcoin reserve supporting whatever service that they might come to it that's related to bitcoin.

They can't deny the fact that big financial institutions and big companies are continuously buying large chunks of bitcoin or integrating crypto in their system. And I believe, they feel that they are being left out if they will not join the pack. They are now seeing that even with their advice to be careful in dealing with crypto, people are continuously patronizing it. As an example given above by suzanne, if more and more people will discover this advantage of bitcoin in cross border payments, a lot of people will use this method and traditional payment methods like WU will slowly lose their clients.

[Gozie51]

There is just one reason for all the positive accolade for bitcoin

All you hear now about adoption, big institutions buying, social media platforms opening arms for bitcoin ads and discussions everywhere about bitcoin is that it didn't collapse during the covid-19 year, 2020.

The year known as 2020, was the litmus test for bitcoin but instead of falling, it measured huge strength and taking over the negative effect of fiat contact and turned it to its positive strength. It showed advantage on this over fiat and in fact served as measures to protect further contacts.

All the fund couldn't pull the coin down including the hard times of covid-19 year. This made the plus for bitcoin, it kept raising from strength to strength and haters don't have choice anymore.

[Lanatsa]

We do know on yesterday Fed and Morgan Stanley also "pro" with bitcoin, with so many huge Bank supporting bitcoin (https://www.google.com/amp/s/www.cnbc.com/amp/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html)

What will be happen next with Bitcoin?

Asking out on what would be next in Bitcoin? No one really knows but these kind of recognition is simply giving out that positive vibe into the market that it can really be possibly be considered and now

it is really getting some recognition by those heavily centralized institutions.If they would really be having these kind of sentiment on continuous basis then it wouldn't be a surprise if we

would be seeing a series of similar words and might really be ending up on making the same step which would really be indicating some bullish possible trend.

[Wexnident]

I think ever since its creation, it has always been important since it introduced a system where no central authority controls it, compared to what we have now. It assures that no single authority could control it, but institutions ignored it then cause it had no influence, no popularity, literally nothing. The system it made isn't that important enough in their eyes to warrant the change since the current system we have right now still stands properly (in their eyes anw). However, with institutions investing left and right, I guess it became "too important to ignore", not to mention its current price. Its importance as a currency, however, remains to be seen since if we were to rate the factors that influence them from noticing Bitcoin, its currency factor would probably be around the bottom.

[Free Market Capitalist]

This is not surprising. Banks and similar institutions first ignored bitcoin. Then they ridiculed it or said it was a fraud, and now they have already realized that Bitcoin itself jeopardizes their existence, so they are going to move to offer crypto custody and/or trading services. The traditional banking system is dying, not only because of cryptocurrencies, and either they adapt or they will disappear.

[Dave1]

Just waiting for some gold bugs to shift their investment to bitcoin.

I think this will be the icing in the cake for bitcoin becoming a store of value. We have seen big banks already offering bitcoin as sort of investments for their selective clients with big and deep wallets. If we could sway gold investors, then it will be huge and welcoming for us. Now we have companies like Tesla and probably even more willing to invest on bitcoin to hold on their balance sheet.

What if there is such a scenario that we will see an exodus of gold investors shifting to bitcoin?

[hugeblack]

I am not a fan of how banks or bank managers think. In my opinion, they are greedy people who think only of themselves.
They did not study Bitcoin until the market capacity exceeded 1 trillion, and they do so because some investors want to play the investment game and buy bitcoin. The banks came to offer them a financial mediation, where they buy bitcoin on behalf of these investors.

Also, a lot of positivity may lead the market to start at the end of the peak and 80% correction.

[MuffinMaster]

Banks are starting to reckon with Bitcoin more and more. The Bitcoin adaptation is still moving forward and if it goes on like this, it will take a large part of the market from the banks. At this point, they are not yet in danger, but they have to start thinking about the future.

[jossiel]

They've come to realize it now because there are huge companies that are coming in and some governments that are in favor of it but the counterpart is to regulate transactions that happens inside their country.

They can't deny the fact that big financial institutions and big companies are continuously buying large chunks of bitcoin or integrating crypto in their system. And I believe, they feel that they are being left out if they will not join the pack. They are now seeing that even with their advice to be careful in dealing with crypto, people are continuously patronizing it. As an example given above by suzanne, if more and more people will discover this advantage of bitcoin in cross border payments, a lot of people will use this method and traditional payment methods like WU will slowly lose their clients.

I don't think that they've felt left out.

What we might not know is that they're already in and just stated what they want to say but have been researching and studying bitcoin for a long time.

It just so happen that there were institutions that are earlier than them that appreciated and adopted it.

[cryptomaniac_xxx]

I am not a fan of how banks or bank managers think. In my opinion, they are greedy people who think only of themselves.
They did not study Bitcoin until the market capacity exceeded 1 trillion, and they do so because some investors want to play the investment game and buy bitcoin. The banks came to offer them a financial mediation, where they buy bitcoin on behalf of these investors.

Also, a lot of positivity may lead the market to start at the end of the peak and 80% correction.

Why you say so that we will go to 80% correction? We didn't bottom that deep when we have the pandemic last year, just around 60%-65% if I'm not mistaken. And as we have said, bitcoin narrative has change a bit, so I'm not seeing that it will fall on a downward spiral, worst 80% after the top.

[electronicash]

those who come late because they listen to Bill Gates will pay a higher price to have BTC. now they are going to be seeking a chance to buy at a low price using their fronts on public exchanges.

I am not a fan of how banks or bank managers think. In my opinion, they are greedy people who think only of themselves.
They did not study Bitcoin until the market capacity exceeded 1 trillion, and they do so because some investors want to play the investment game and buy bitcoin. The banks came to offer them a financial mediation, where they buy bitcoin on behalf of these investors.

Also, a lot of positivity may lead the market to start at the end of the peak and 80% correction.

Why you say so that we will go to 80% correction? We didn't bottom that deep when we have the pandemic last year, just around 60%-65% if I'm not mistaken. And as we have said, bitcoin narrative has change a bit, so I'm not seeing that it will fall on a downward spiral, worst 80% after the top.

80% is kind of the worse expectation that you should have. but imo there wouldn't be a sudden drop for a correction.  it will probably a very slow dip, it's very uncertain where the economy will go after the pandemic. the collapse will not go back up again as quickly as possible.

[ShowOff]

It didn't take long to say that DB has changed its mindset toward bitcoin. Previously they thought bitcoin was a negative threat, and now they have made bitcoin their way of making profit and that is positive thinking. This is proof that they have their own mission and purpose in bitcoin.

What will be happen next with Bitcoin?

To reach a higher ATH, bitcoin still need a lot of support from private investor, institutional investor, and trader. The bitcoin community is still hoping for the price to hit $100K this year or as early as 2022. But it's uncertain now what will happen next. A minor correction happened today, which I think is normal.