Bitcoin halving is a much-anticipated event in the cryptocurrency market. It usually precedes a steep rise in the digital asset. This time, however, the situation is different.

Crypto enthusiasts pinned much hope on it, but analysts at Deutsche Bank cooled their ardor a bit. According to currency strategists Marion Laboure and Cassidy Ainsworth-Grace, one should not expect an immediate effect. Still, the halving was not in vain and miners would definitely be rewarded.

Deutsche Bank sees the halving of rewards for adding new blocks to the BTC network as significant. Experts attribute this to the fact that Bitcoin halving has been priced in.

In the near term, bank specialists expect the first cryptocurrency to get stuck in a sideways range. That is, the crypto asset is likely to remain relatively stable, with its value showing no gains. "Looking ahead, we continue to expect prices to stay high due to expectations of future spot ether (ETH) ETF approvals, future central bank rate cuts, and regulatory changes," Deutsche Bank noted.

Thus, the analysts do not anticipate any sharp price fluctuations in the short run. They are confident that the Bitcoin ecosystem will continue to develop within the cryptocurrency industry.

Earlier, a survey conducted by Deutsche Bank among over 3,600 customers from the US, UK, and EU countries found that only 10% of respondents expect Bitcoin to rise above $75,000 by year-end.