Bloomberg predicts that bitcoin rate will exceed $ 20 thousand by the end of the year

Bloomberg predicts that bitcoin will exceed $ 20 thousand by the end of the year

Many signs indicate that in 2020, according to Bloomberg analysts, bitcoin rate will grow significantly and may even set new highs.

IN fresh report the company said that the current market situation will actively contribute to the price increase. Analysts point to an increase in interest in bitcoin from large investors amid the collapse of stocks during the coronavirus epidemic, as well as an increase in the accumulation of BTC by various funds.

Bloomberg predicts that bitcoin rate will exceed $ 20 thousand by the end of the year

In particular, the reserve of the largest bitcoin trust Grayscale reached 340 thousand coins this year, which is 2% of their total market supply..

Bloomberg also believes that another important factor is the increase in the volume of stablecoins, which contributes to the growth of the crypto market, an increase in turnover. digital assets and serves as an additional confirmation of the increased interest of investors. For example, over the past year, the capitalization of Tether (USDT) has increased from $ 4 billion to $ 10 billion..

Bloomberg predicts that bitcoin rate will exceed $ 20 thousand by the end of the year

Correlation of bitcoin price with Tether.

Due to these and other reasons, analysts have concluded that Bitcoin should significantly increase its value this year, unless force majeure happens. According to their forecasts by the end 2020 years the MTC exchange rate can overcome the $ 20 thousand mark and rise up to $ 28 thousand.

Earlier, the head of the data analysis department of CEX.IO Broker Yuri Mazur also said that in the future cryptocurrencies will be able to replace gold in terms of profit generation.

text: Ivan Malichenko, photo: photo.2gis, chart: Bloomberg

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