Saturday, April 10, 2021
BTC Market News Today
  • Home
  • Beginners
  • Bitcoin
  • Blockchain
  • Cryptos
  • Gold
  • Market
  • Prices
  • Technical
  • Videos
  • Home
  • Beginners
  • Bitcoin
  • Blockchain
  • Cryptos
  • Gold
  • Market
  • Prices
  • Technical
  • Videos
BTC Market News Today
No Result
View All Result

Bitcoin could hit US$400,000 this year, say Bloomberg analysts

Bitcoin could hit US$400,000 this year, say Bloomberg analysts
Share on FacebookShare on Twitter


Analysts at the market data firm also said global indicators showed a “shifting global tide” in favour of Bitcoin over gold as a reserve asset

Related articles

Why Bitcoin Matters, and (Almost) Everything Investors Need to Know About Owning It

Why Bitcoin Matters, and (Almost) Everything Investors Need to Know About Owning It

April 10, 2021
Bitcoin ETF Approval Will Happen: Morgan Creek’s Mark Yusko – Decrypt

Bitcoin ETF Approval Will Happen: Morgan Creek’s Mark Yusko – Decrypt

April 9, 2021

The price of Bitcoin could reach as high as US$400,000 this year based on its previous bull runs, according to new data from crypto analysts at Bloomberg.

In the April edition of its Crypto Outlook 2021, the analysts said the original digital currency was “on similar ground” as its 2013 gains, which saw its value multiply by 55 times, and in 2017 where it swelled 17 times in value.

“To reach price extremes akin to those years in 2021, the crypto would approach $400,000, based on the regression since the 2011 high”, the report said.

READ: Chinese Bitcoin mining risks climate targets due to coal power usage

Meanwhile, Bloomberg highlighted that global indicators showed a “shifting global tide” in favour of Bitcoin over gold as a reserve asset, while the decision of major firms such as () to invest in the crypto could also boost its value and reputation as a “potential global digital store-of-value”.

The report also noted a “rising tide” of investment into crypto assets by both institutions and individuals, with assets in publicly traded crypto funds having surged to almost US$60bn as of March 25 from less than US$10bn in October last year.

“Even with speculative excess in the broader crypto market, we believe Bitcoin is less prone to a sustained trip up. The imminent launch of Bitcoin-oriented US exchange-traded funds is another bullish underpinning”, the report said.

But could it all be a Chinese trap?

While Bloomberg’s analysts are uber-bullish on Bitcoin, investors elsewhere in the sector are less positive about the sector, with some even warning the cryptocurrency could be a financial weapon being wielded by the Chinese government.

On Wednesday, billionaire investor Peter Thiel, co-founder of Holdings Inc () and Palantir Technologies Inc (NYSE:PLTR), said that Bitcoin could be a “Chinese financial weapon” that could pose a threat to the US dollar’s status as the global reserve currency.

Thiel’s comments at the Richard Nixon foundation follow similar comments by Canadian businessman Kevin O’Leary, who said last month that the potential exposure to China through Bitcoin may cause issues with those considering investing in the cryptocurrency.

Chinese Bitcoin miners account for around 80% of the entire world’s cryptocurrency trade, leaving the sector acutely exposed to any governance changes inside the authoritarian state.

Bitcoin was trading 0.03% higher at US$56,757 in lunchtime trading on Thursday.



Read more:Bitcoin could hit US$400,000 this year, say Bloomberg analysts

Tags: AnalystsBitcoinbitcoin news todayBloombergHitUS400000year

Lates BTC News

Why Bitcoin Matters, and (Almost) Everything Investors Need to Know About Owning It

Why Bitcoin Matters, and (Almost) Everything Investors Need to Know About Owning It

by BTC Data
April 10, 2021
0

A lot has changed since . We’ve chronicled a lot of disruption over the decades—the shocking new ability to...

Bitcoin ETF Approval Will Happen: Morgan Creek’s Mark Yusko – Decrypt

Bitcoin ETF Approval Will Happen: Morgan Creek’s Mark Yusko – Decrypt

by BTC Data
April 9, 2021
0

In brief Mark Yusko, CEO and chief investment officer at Morgan Creek Capital Management, expects that a Bitcoin ETF...

Bitcoin returns more than double initial investment for 25 publicly traded companies

Indicators show investors buying and holding Bitcoin

by BTC Data
April 9, 2021
0

Bitcoin has stabilized above $55,000 while maintaining a market cap of $1 trillion for 27 of the last 30...

Texas A&M Mays Innovation Research Center To Host Bitcoin Conference April 16-17

Texas A&M Mays Innovation Research Center To Host Bitcoin Conference April 16-17

by BTC Data
April 7, 2021
0

Experts representing numerous aspects of the cryptocurrency Bitcoin are scheduled to participate in the Bitcoin Conference April 16-17, hosted...

Bitcoin: Boom or bust?

Bitcoin: Boom or bust?

by BTC Data
April 7, 2021
0

Bitcoin: Boom or bust? CNA Read more:Bitcoin: Boom or bust?

Load More
Watch these key technical levels as Bitcoin price nears $61,800 all-time high

Watch these key technical levels as Bitcoin price nears $61,800 all-time high

April 10, 2021
What’s the Buzz About Bitcoin Cryptocurrency and Blockchain Technology?

What’s the Buzz About Bitcoin Cryptocurrency and Blockchain Technology?

April 10, 2021
6 Crypto Scams You Need to Know Before Buying Bitcoin

6 Crypto Scams You Need to Know Before Buying Bitcoin

April 10, 2021
Visa and PayPal Give the Green Light to Cryptos. Should You?

Visa and PayPal Give the Green Light to Cryptos. Should You?

April 10, 2021
5 Stocks That Made People Millionaires in 6 Months | The Motley Fool

5 Stocks That Made People Millionaires in 6 Months | The Motley Fool

April 10, 2021
NFT Investments says ‘fiat money is melting and digital is going to win’ ahead of

NFT Investments says ‘fiat money is melting and digital is going to win’ ahead of

April 10, 2021
The ABCs of Bitcoin | The Motley Fool

The ABCs of Bitcoin | The Motley Fool

April 10, 2021
An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties

An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties

April 10, 2021

Bitcoin News

Coinbase’s Lofty Valuation Might Erode as Crypto Markets Mature

Coinbase’s Lofty Valuation Might Erode as Crypto Markets Mature

April 10, 2021
Former Texas Governor Welcomes Bitcoin Leader to Austin

Former Texas Governor Welcomes Bitcoin Leader to Austin

April 9, 2021
Market Wrap: Bitcoin Near $58K, Reverses Two-Day Losses Despite Lower Trading Volume

Market Wrap: Bitcoin Near $58K, Reverses Two-Day Losses Despite Lower Trading Volume

April 8, 2021
6 revelations about Coinbase’s business ahead of its hotly anticipated direct listing

6 revelations about Coinbase’s business ahead of its hotly anticipated direct listing

April 8, 2021

Crypto News

15 Trends That Prove Crypto-Adoption Is Moving In The Right Direction | Hacker Noon

15 Trends That Prove Crypto-Adoption Is Moving In The Right Direction | Hacker Noon

April 10, 2021
Whipsawed Bitcoin Investors Eye Coinbase as Steadier Crypto Bet

Whipsawed Bitcoin Investors Eye Coinbase as Steadier Crypto Bet

April 9, 2021
Cryptos Looking For Mainstream Acceptance – FNArena

Cryptos Looking For Mainstream Acceptance – FNArena

April 9, 2021
Crypto-Conservation

Crypto-Conservation

April 8, 2021

BlockChain

NFT Investments says ‘fiat money is melting and digital is going to win’ ahead of

NFT Investments says ‘fiat money is melting and digital is going to win’ ahead of

April 10, 2021
Coinbase listing eyed as key test of crypto market’s staying power

Coinbase listing eyed as key test of crypto market’s staying power

April 10, 2021
Argo Blockchain posts record mining revenues for third month in a row

Argo Blockchain posts record mining revenues for third month in a row

April 9, 2021
Argo Blockchain report 84% March mining margin as revenues soar ‘outperforming

Argo Blockchain report 84% March mining margin as revenues soar ‘outperforming

April 9, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA

© 2021 BTCdata.org

No Result
View All Result
  • Home
  • Beginners
  • Bitcoin
  • Blockchain
  • Cryptos
  • Gold
  • Market
  • Prices
  • Technical
  • Videos

© 2021 BTCdata.org

  • bitcoinBitcoin(BTC)$38,966.00
    BITCOIN
    24H : 6.01%
    Volume : $51,977,675,117.00
    Marketcap : $724,880,527,645.00
  • ethereumEthereum(ETH)$1,685.19
    ETHEREUM
    24H : 5.08%
    Volume : $41,104,999,816.00
    Marketcap : $192,389,505,208.00
  • bitcoin-cashBitcoin Cash(BCH)$472.58
    BITCOIN CASH
    24H : 10.83%
    Volume : $4,869,831,307.00
    Marketcap : $8,655,578,438.00
  • tetherTether(USDT)$1.000
    TETHER
    24H : 0.190%
    Volume : $91,830,921,712.00
    Marketcap : $27,886,331,807.00
  • stellarStellar(XLM)$0.347
    STELLAR
    24H : 4.94%
    Volume : $2,300,561,849.00
    Marketcap : $7,708,713,549.00
  • tronTRON(TRX)$0.035
    TRON
    24H : 4.28%
    Volume : $1,891,731,791.00
    Marketcap : $2,470,798,352.00
  • cardanoCardano(ADA)$0.543
    CARDANO
    24H : 14.68%
    Volume : $5,082,387,056.00
    Marketcap : $17,130,617,618.00
  • moneroMonero(XMR)$154.50
    MONERO
    24H : 3.78%
    Volume : $481,481,568.00
    Marketcap : $2,747,813,930.00
  • usd-coinUSD Coin(USDC)$1.000
    USD COIN
    24H : 0.124%
    Volume : $1,901,466,786.00
    Marketcap : $6,329,845,718.00
  • bitcoin-goldBitcoin Gold(BTG)$12.56
    BITCOIN GOLD
    24H : 13.59%
    Volume : $30,047,259.00
    Marketcap : $219,400,487.00

$38,966.00
bitcoin
Bitcoin(BTC)
24H
6.01%
USD EUR GBP