Bloomberg has just published its latest forecast regarding cryptocurrency markets. There is a thesis that suggests that for 1 BTC we will pay even 20,000 USD this year.
Bloomberg examines the BTC course
BTC’s technical analysis is carefully written by Bloomberg Intelligence strategist Mike McGlone. He himself concentrated on earlier changes in BTC prices after the first and second halving.
If the past is a prologue, according to McGlone, BTC will now be in a 3-year cycle again and will reach $ 20,000 in 2020.
In his opinion “Bitcoin reflects [teraz] events of 2016 “. He added 2016 “This was the last time supply was halved and it was the third year after ATH”. Following this logic, 2021 will be the year of a speculative bubble …
“60 percent each fall in 2014 until the end of 2016, the cryptocurrency reached the summit of 2013. We are rewinding [wykres] forward four years and [widzimy, że] second year after almost 75 percent the fall in 2018, we think Bitcoin will approach a record level of around $ 20,000 if we follow the 2016 trend. “
– adds the expert.
Bitcoin is new gold
Bloomberg also highlights various narratives about Bitcoin that appear in the media, and about BTC as the digital version of gold. It is assumed that the same macroeconomic factors affect the prices of both assets. Given that gold is expected to soon reach its highest level in years, Bloomberg believes that the price of Bitcoin may also rise due to the same basic factors.
The report also mentions Grayscale Bitcoin Trust, which is popular with investors and is responsible for buying huge amounts of BTC this year.
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