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Bitcoin Price Can Reach $400K Thanks to Institutional Adoption: Bloomberg

The price of bitcoin could surge multi-fold from its current level to $400,000 as its institutional adoption has intensified, noted Bloomberg analysts. In their recent report on the primary cryptocurrency, they also suggested that BTC is replacing the “old-guard” gold more “sudden than gradual.” Bitcoin to Reach $400K? In the latest monthly report on BTC’s performance, Bloomberg’s analysts, led by senior commodity strategist, Mike McGlone, outlined the $50,000 price mark as the asset’s baseline support. Although they acknowledged $60,000 as the key resistance in bitcoin’s way up, they believe it’s actually “eroding” due to the massive adoption from behemoths like…

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One Bitcoin Will Buy a Lambo This Year and a Bugatti in 2022, Kraken CEO Says

One bitcoin will be able to buy a Lamborghini model by the end of the year and a Bugatti in 2022, said Jesse Powell – the CEO of the veteran US crypto exchange, Kraken. During a recent interview with Bloomberg, he was also bullish on Ethereum, predicting a price tag well above $2,000 due to the upcoming ETH 2.0 release and the large number of projects built on top of it. One BTC for Lambo and Bugatti Kraken’s CEO has been highly-optimistic regarding BTC’s future price performance for a while. He has repeatedly outlined that the primary cryptocurrency is heading…

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84% Think Bitcoin Price Will Top $100K in 2021: Survey

Over 80% of participants in a recent poll answered that they believe bitcoin will be within a six-digit price territory by the end of the year. While only 16% said that BTC would be beneath $100,000, this only attests to the difference several months can make on the general sentiment in the crypto community. Bitcoin to Above $100K, the Majority Predicted The popular crypto proponent going by the Twitter handle PlanB, also known in the community as the creator of the stock-to-flow model and its versions, asked his hundreds of thousands of followers about their views on where bitcoin’s price…

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S2F Model: 35% Think Bitcoin Won’t Reach $55K Target by 2021

According to a recent poll by the creator of the popular Bitcoin stock-to-flow model, the majority of participants believe that BTC’s price will either hit $55,000 or stay below it by the end of 2021. Backstory: Bitcoin Stock-To-Flow Model(s) A cryptocurrency analyst going by the Twitter handle PlanB revealed the first version of the BTC stock-to-flow model a few years back. He described the stock as the size of existing reserves (or stockpiles) and the flow – the annual supply of bitcoins on the market. He added that the S2F is a direct driver of value as when the ratio…

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High Inflation and Gold Issues Could Send Bitcoin Price to $500,000, The Winklevoss Twins Say

Gold, oil, and even the US dollar, which have served as a reliable store of value for years, could soon lose that status, according to the Winklevoss twins. According to them, Bitcoin is the value to substitute and when this comes, it could facilitate a surge in its price to $500,000 and beyond. The Major Problems With USD In a comprehensive post, the Winklevoss twins discussed the past, present, and plausible future of finance, global economies, safe haven tools such as gold, oil, and USD, and Bitcoin’s potential role in the entire equation. The post explored in detail the approach…

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If History Repeats: Bitcoin Price at $430,000 During Next Bull Run

Although history is not a precise indicator for future price developments, a popular cryptocurrency analyst made a compelling forecast showing that if Bitcoin repeats its 2016-2017 bull run with the same percentage increases, it will end up at $430,000 in 2021. Bitcoin At $430,000? The primary cryptocurrency has built a reputation for beating unfavorable odds in the past. Its volatility is well-known among investors with some historical price surges and drops. According to the popular cryptocurrency analyst CryptoBull, if Bitcoin is to repeat its performance over the past bull run, it could end up at $430,000. Bitcoin Price Cycles. Source:…

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Major Investment Bank Recommends Bitcoin Over Gold

Both Bitcoin and gold have surged as the US Congress is debating over the further stimulus program to support the economy amid the pandemic. Nevertheless, a major investment bank is recommending the cryptocurrency over the metal. Oppenheimer Analyst Says Now Is the Right Time to Invest in Bitcoin On Tuesday, Bitcoin touched the highest level in about 11 months, which is a big deal considering that it has been moving sideways for the last two months or so. Elsewhere, gold has broken above the nine-month peak and hit an all-time high. Investors are rushing to put their money into safe-havens…

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5 Reasons Why The Bitcoin Bull Run Has Started

Popular cryptocurrency YouTube content creator DataDash believes that Bitcoin has entered a long-term bull cycle. He based his opinion on several factors, including the famous stock-to-flow model, the increasing hodling mentality from investors, and the issuance of new coins. Weekly And Monthly Bullish Patterns According to Nicholas Merten, the person behind the popular DataDash YouTube channel, Bitcoin’s recent performance solidifies an upcoming bull run. He began by examining a nearly three-year-old resistance level that started from the all-time highs in December 2017. BTC was incapable of closing above it on the weekly chart since then but managed to do so…

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