Bloomberg expects bitcoin to double to $20,000 this year, says something needs to go 'really wrong' for it to not appreciate (BTCUSD)
Reuters
- Bloomberg expects bitcoin to revisit its record high reached in 2017 and double to $20,000 this year, an analyst note published Tuesday said.
- The firm sees bitcoin breaking away from other cryptocurrencies and says the digital currency has increasingly favorable fundamentals and technicals.
- Bloomberg says that the same forces pushing gold higher also support bitcoin and that the coronavirus is accelerating bitcoin's maturity relative to the stock market.
- Visit Business Insider's homepage for more stories.
Bloomberg is taking the opposite side of Goldman Sachs, saying in a note published on Tuesday that bitcoin could double to $20,000 this year.
Last week, Goldman listed five reasons investors should avoid bitcoin.See the rest of the story at Business Insider
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