$50K BTC in 2021? Bloomberg Analysts Join the ‘Traditional Onslaught’ Driving...
A new crypto outlook from Bloomberg suggests BTC could reach $50,000 in 2021, topping off a month of major institutional momentum for the asset.
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"Bitcoin's macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance," according to Bloomberg.
Much of bitcoin’s recent rally has been attributed to the tremendous success of the first bitcoin ETF to trade on Wall Street. The ProShares ETF had seen over $1 billion in trading volume in the first 24 hours alone. However, JPMorgan analysts do not believe that this is the driving force behind BTC breaking a […]
During 2020, Bitcoin price has risen from a low of $3,800 to $14,100, representing over 250 ROI year-to-date. As strong as this performance has been for the first-ever cryptocurrency, according to a Bloomberg Senior Commodity Strategist, Bitcoin may go “parabolic” in 2021 just like it did in 2017 and 2013. Here are the reasons for this prediction, straight from the Bloomberg Intelligence analyst. Bloomberg’s Mike McGlone: “Bitcoin May Undergo A Parabolic 2021” A new crypto […]
A new poll from Bloomberg has shed more light on the perception of bitcoin among professionals in the world of traditional finance. Bloomberg's poll revealed that the fledgling currency is having trouble shaking its bubble image and that many financial professionals remain sceptical. The majority of participants said bitcoin is currently trading at "unsustainable" levels. Bloomberg's professionals are unimpressed. Bloomberg's poll did not involve the general public, instead focussing on 562 investors, analysts and traders that use its services. Awareness was not an issue, but 55% percent....
Bitcoin has started 2021 off with a bang. Here’s what investors and analysts think is driving the rise (and today’s dip) as well as predictions for what happens next.