A new Bloomberg report claims that Bitcoin will approach its record high of $ 20,000 amid a pandemic of COVID-19 and other market accelerators.
According to the report kriptovalutite from June 2020 to Bloomberg, Bitcoin won support around the price point of $ 10,000 after halvinga. Senior strategist Mike McGlough writes that something should “really go wrong” for BTC so that it does not continue to increase in value for the rest of the year.
The report states;
“The same forces that buy gold support Bitcoin, but the supply of cryptocurrency is more limited. Acceptance by default is the main indicator for Bitcoin and our indicators remain positive.”
Bloomberg claims that Bitcoin is consolidating into a bullish market and has gained an advantage over the wider crypto market. The report highlights the limited supply of Bitcoin associated with most altcoins, which investors will find increasingly attractive in light of central bank monetary easing measures.
The report also predicts that Bitcoin will return to its highest registered value of $ 20,000 by the end of the year, with the characteristics of a mirror chart for cryptocurrencies observed during the halving in 2016.
In addition to Bitcoin, Bloomberg claims that The COVID-19 pandemic is a potential accelerator for Facebook’s Libra and a potential digital currency supported by the Fed. The report says the recent outbreak highlighted ” vulnerabilities“in the global cash system, built on outdated technology, and can give new life to Libra – Facebook ‘s project.