{"id":32936,"date":"2020-12-07T13:33:21","date_gmt":"2020-12-07T11:33:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32936"},"modified":"2025-08-28T11:17:59","modified_gmt":"2025-08-28T08:17:59","slug":"bloomberg-bitcoin-eyes-50000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bloomberg-bitcoin-eyes-50000\/","title":{"rendered":"Bloomberg: Bitcoin eyes $50,000"},"content":{"rendered":"

The price range for the first cryptocurrency could be between $10,000 and $50,000, and its market capitalization could rise to $1 trillion. In Bloomberg’s view, Bitcoin’s new records will be driven by unprecedented pace of quantitative easing<\/a> and a rising debt-to-GDP ratio, as well as lower post-halving issuance rates.<\/p>\n

Experts say that the current consolidation in the $19,000\u2013$20,000 range could extend over the coming months, but the uptrend will resume. The analysts’ optimism rests on fundamental shifts relative to the 2017 situation.<\/p>\n

Over the past three years, open interest in CME Bitcoin futures has grown<\/a> to $1 billion, the daily issuance of digital gold has fallen from 1,800 to 900 coins, and the value of assets in the GBTC trust of Grayscale Investments has surged<\/a> from $200 million to $10 billion.<\/p>\n

\"Bloomberg:<\/p>\n

Analysts say Bitcoin’s market capitalization of $1 trillion is only a matter of time. The corridor of values around the regression line they built suggests this could occur in 2021-2022.<\/p>\n

\"Bloomberg:<\/p>\n

Among other factors, analysts note a decline in Bitcoin’s volatility. The 180-day volatility gauge has in recent days stood at around 1.8 times that of gold.<\/p>\n

In the report, there is also mention of a decline in the active supply of Bitcoin. Based on Coin Metrics data, experts noted that the share of on-chain coins transferred over the past year fell to 40% of total supply. In 2013 and 2017, when prices formed notable peaks, this figure stood at 60%.<\/p>\n

\"Bloomberg:<\/p>\n

In conclusion, the experts presented a chart showing simultaneous growth in hash rate and Bitcoin price against the backdrop of rising balance-to-GDP ratios among central banks worldwide (highlighted in yellow). A white downward line marks the slowdown in the rate of issuance of the cryptocurrency.<\/p>\n

\"Bloomberg:<\/p>\n

Crypto December 2020 Outlook<\/a> by ForkLog<\/a> on Scribd<\/p>\n