Bloomberg: “Bitcoin will approach record high of about $20,000 this year”

[Argoo]

It is hardly possible to accurately predict the price of bitcoin by the end of this year. There are many factors that indicate that its price in the next year or two can very significantly increase. Much will depend on how successful the further fight against coronavirus will be and how strong the global economic crisis will turn out, the onset of which is predicted in the near future.
In general, with a very good combination of circumstances, bitcoin may well reach a price of $ 20,000.

[hahay]

Everything is still possible to happen related to the growth of existing cryptocurrency such as the increase in Tether which is very great I guess, and related to the Bloomberg argument I think it also has a big chance to happen later this year because these arguments at least still make sense that remains normal growth lines are related to the situation that happened this year, because they usually analyze if growth will reach 100k or even more I think that analysis is very difficult to achieve especially market sentiment that is not always good and even difficult to cross the resistance line.

[whyrqa]

I think that it is worth reading the Bloomberg publication, which refers to the report of analysts from Morgan stanley who suggested, based on certain studies, that the world expects a second wave of the spread of coronavirus infection in the fall of 2020. If we take for example the indicators of the current period, then the economy of the affected countries may return to the pre-crisis level in the fourth quarter of 2020, according to studies of current indicators of the rate of GDP recovery. But in March, Bitcoin fell almost to 4,000 dollars, and today it has recovered again within the framework of 9,500 - 10,000 dollars. Based on this, the question arises of how the second wave of covid-19 will affect the cryptocurrency and the economies of the countries and whether we will all be ready for this. therefore, it is very difficult to predict something in this situation regarding Bitcoin prices even until the end of 2020.

[Jating]

Everything is still possible to happen related to the growth of existing cryptocurrency such as the increase in Tether which is very great I guess, and related to the Bloomberg argument I think it also has a big chance to happen later this year because these arguments at least still make sense that remains normal growth lines are related to the situation that happened this year, because they usually analyze if growth will reach 100k or even more I think that analysis is very difficult to achieve especially market sentiment that is not always good and even difficult to cross the resistance line.

We can't really compare tether though, they just have to mint it (just like fiat) and balloon their marketcap. So obviously, it is very different as compare to BTC. Nothing against Bloomberg, but it seems they have their agenda behind with this prediction.

Is it good for the market? Probably, but then again they are just giving false hope, specially for beginners and it will not be positive experience for them if the market suddenly crashes this year or the prediction didn't get to $20k at the end of the year.

[Spaffin]

Everything is still possible to happen related to the growth of existing cryptocurrency such as the increase in Tether which is very great I guess, and related to the Bloomberg argument I think it also has a big chance to happen later this year because these arguments at least still make sense that remains normal growth lines are related to the situation that happened this year, because they usually analyze if growth will reach 100k or even more I think that analysis is very difficult to achieve especially market sentiment that is not always good and even difficult to cross the resistance line.

We can't really compare tether though, they just have to mint it (just like fiat) and balloon their marketcap. So obviously, it is very different as compare to BTC. Nothing against Bloomberg, but it seems they have their agenda behind with this prediction.

Is it good for the market? Probably, but then again they are just giving false hope, specially for beginners and it will not be positive experience for them if the market suddenly crashes this year or the prediction didn't get to $20k at the end of the year.

The fact is that almost all analysts in the cryptocurrency market not only expressed their opinion, because they wholeheartedly believe in the cryptocurrency or are opposed to the development of the cryptocurrency market. Just in the first place, these forecasts have a definite purpose in order to speculate in the cryptocurrency market and perform certain manipulations. Therefore, one should always be wary of such predictions. Each investor or trader should have a backup plan of action in case of unforeseen developments in the cryptocurrency market.

[FanEagle]

Is it good for the market? Probably, but then again they are just giving false hope, specially for beginners and it will not be positive experience for them if the market suddenly crashes this year or the prediction didn't get to $20k at the end of the year.

Even beginners must need to search and find themselves on what had happened on bitcoin markets in the past so that they will not be disappointed on unexpected events on this crypto space. An investor must need to be ready to face anything while risking their money as no one could speculate exact things still we need speculations to make ourselves ready for planning for future levels.

Just in the first place, these forecasts have a definite purpose in order to speculate in the cryptocurrency market and perform certain manipulations.

Speculations are not new just because of cryptos. For every markets, there should be some soothsayers and market do react/ignore them on it own way. Spreading speculations and then manipulating markets with the expectation of trapping small investors must be part of every markets and protecting themselves against such manipulation is purely within individual's responsibilities as nothing could be done in the decentralized space.

[bitgolden]

It is not good for the market. Just because big names are calling for bitcoin to be higher doesn't mean that the price will go higher, and when it doesn't that will hurt even more. I do not think the best way to go is to promote bitcoin as a price thing everywhere.

Definitely, go ahead and talk about how blockchain is revolutionary and talk about how bitcoin is the future of money and many things like that which doesn't involve the price at all, and say that it is a good long term investment because it will be a lot more common to use it in the future so getting it now would be a great bargain, all of these works perfectly.

However, when you put the price in there and talk about the price and it fails? That will only hurt the price even more and would disappoint people when it doesn't happen.