The results of the “2022 special global market research” conducted by Deutsche Bank between 6-9 December 2021 have been announced. Accordingly, most of those surveyed believe that Bitcoin will experience a massive depreciation in the next year. More specifically, according to the survey, BTC could drop by more than half of its current value next year.
In the poll, “What will the S&P 500 return with in 2022?”, “When will the Fed taper end?”, “When will the next US recession occur?” and “Where will Bitcoin be in 2022?” Answers were sought to questions such as:
62% of respondents think Bitcoin is more than twice as likely to halve. Unsurprisingly, the rates put in the Bitcoin halving have increased in line with the age of respondents. While 56% of those under 35 thought they were more likely to double up, only 26% of those over 55 shared this view.
Deutsche Bank: Crypto Is Not Environmentally Sustainable
On the other hand, according to another research report by Deutsche Bank, the market value of Bitcoin has reached $1 trillion recently. However, the available data reveal that the leading crypto has quadrupled its annual global energy consumption in the last three years.
While the environmental impact of Bitcoin was not talked about much at the last COP26 climate conference, it continues to be important to crypto users.
Mining just one Bitcoin consumes a larger carbon footprint than nearly two billion Visa transactions, according to analysts. What’s more, a single Bitcoin transaction can power the average US household for more than two months.
According to Deutsche Bank, its carbon footprint could hinder further adoption of Bitcoin. The bank stated that private companies are committed to being carbon neutral and that 197 public companies have signed the Paris Agreement, which aims to reduce greenhouse gas emissions. The aim is to limit rising global temperatures to 2°C. According to a study by the bank, Bitcoin mining could cause this amount to increase in just 30 years.