Bitcoin to ‘Easily’ Hit $60K in 2021, Pressing ECB for Digital Euro, Says German

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Bitcoin to ‘Easily’ Hit $60K in 2021, Pressing ECB for Digital Euro, Says German Bank

BayernLB has stated that the bitcoin price could ‘easily’ hit $60,000 by mid-2021. The publicly-regulated German bank claimed that the digital asset’s price performance will motivate the European Central Bank (ECB) to launch a digital euro to compete.

BayernLB claimed that a combination of bitcoin’s monetary policy, recent halving, and a growing appeal among corporate investors will drive the next bull market.

It added that the ECB’s ‘rival’ digital currency would compete with bitcoin only in terms of its infrastructure and user interface.

BayernLB Bullish on Bitcoin

In a recent report, the Munich-based financial institutional set its outlook for 2021. Within the document, BayernLB claimed that the bitcoin price looks set to top $60,000 by mid-2021.

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