Deutsche Bank’s senior economist and market strategist Marion Laboure and research analyst Galina Pozdnyakova released a report, estimating the price of Bitcoin to reach $28,000 by the end of the year, which represents around 43% upside from the current level.

The analysts mentioned that cryptos have been correlated to benchmarks like the Nasdaq 100 and the S&P 500 since November, expecting the indices to recover to January levels by the end of the year. However, the analysts also noted that the crypto free fall could continue because of the system’s complexity.