Bloomberg predicting BTC reaching $400K in 2021

[sarmrakib]

It's not impossible and I hope it happens, but at the same time I don't think anyone can really predict this, let alone people who were bearish a few months ago. Is it too hard to just say you don't know ?

We have seen some bearish fall but its not mean that it is huge downtrend it was a just correction .It is true that to predict the market but we can easily say that bitcoin will go more high as it is now .The prediction of 400k$ i think its abnormal at this year but very possible in future .

[meanwords]

I think that's stupid. They expect Bitcoin to gain SIX TRILLION DOLLARS more in marketcap in just a year? that's way more than the top leading companies in the world. Well, to be fair, Bitcoin is different from those companies but still, it's really unrealistic for me. I know that Bitcoin can grow that big someday but I don't really think it can just suddenly attract that much money in just a year.

[amishmanish]

Well if the 400K prediction comes true, my biggest regret would be not having a full bitcoin even after being here since 2017. So for purely selfish reasons, I would want the mega bulls to actually just hold for another year or so.

Considering that we have already reached and been stable at 50-60K, it is easy to see that the usage and adoption of BTC as a form of investment plus dividend bearing instrument is firmly getting established. Decentralized lending and all the fancy options on top are ensuring that holding BTC is going to be instrumental in this rapidly evolving paradigm. 400K isn't really that far fetched.

[Asuspawer09]

"According to Bloomberg, Bitcoin is replacing gold “more abruptly” than anticipated. Quotes a price potential of $400,000 in 2021."

Forget about the numbers...

This demonstrates how public opinion is generally improving.

Only in December did Bloomberg declare bitcoin to be in a huge bubble.

Bloomberg, welcome to the bubble.

It's obvious that 400k$ in 2021 is a bit too much for now, if you're going to base in the market cap of bitcoin which is already a trillion-dollar market cap it's a long way to reach the 400k$ price.

The higher the market price the bitcoin price has the riskier it is to invest in it, so for sure there will be a lot of up and down when we reach 100k$ above, even today we are still sustaining the price of 50k-65k$ and it takes time to put a lot of investors or money in the market, its gonna need a lot of dumps.

Just imagine how many years bitcoin takes to reach the price today, probably it takes 5-20 years as well to reach half a million dollars or a million dollars price.

[ampu]

We are just starting fiscal 2021 and the current bitcoin price is quite good with startups above $ 50k. Reaching the $ 400k value seems too high, in my opinion, Bitcoin is around the more reasonable $ 200k zone.
Anyway, I still believe that Bitcoin can reach a little over 300k $.
In my experience, once Bitcoin is predicted by the Internet or experts, its price will drop. McAfee had predicted Bitcoin at $ 100k by 2020 but it didn't happen.

[jostorres]

This demonstrates how public opinion is generally improving.

Only in December did Bloomberg declare bitcoin to be in a huge bubble.

Yeah, that must be an abrupt change in their perspective toward bitcoin. But I am personally expecting this kind of opinions and I will not be surprised even Warren Buffet will be giving out another positive statement on bitcoin's future.

Forget about the numbers...

Why should we? I have seen many analysis which are supporting for bitcoins to be testing $380 to $400 by end of this year. But only time will answer for all of these kinds of speculations still this is not mere numbers but it is having scientific explanation; one of such is bitcoin has showed 100x growth on each 4 year cycle from previous cycle's low.

[boyptc]

Bloomberg is jumping on the bandwagon eh?

Or they're just riding the craze that bitcoin is getting because it has broken new ATHs many times within less than a year. $400k is a price that will make a lot of people in here rich.

But that's just speculation and don't want to put much hope in what they've said. Making it happen for this year is unrealistic.

[el kaka22]

I do not believe that we will reach 400k this year, and I think these type of things hurt bitcoin as well. I am a bitcoin bull as well and I think it will go up, however I believe it will be something along the lines of 100k+ which could mean 120k or even 180k but not 200k. Why do I think these type of predictions hurt the market?

Well, people get in at around 50k to 60k and they are expecting to 7x or so their money and when that fails they are miserable and sell their coins, so for these people 100k is not a good price, they are already expecting that and think that it should 4x even after that, to normal people 100k is a great price and we would be very happy about it. If these people who wait for 400k end up not getting that, they would sell all their coins even at 100k. Which is why I think we should have reasonable prices and not this high end prices as our predictions.

[hugeblack]

The price of $ 400,000 is nothing because it is not the price that will have a higher market capacity than gold or can exchange it, and the Bitcoin network is not ready for community adoption.
So the news is a misleading or urgent study in order to obtain more money by placing hot headlines and not a true study of what may happen in the future.

[stomachgrowls]

Smells like $100k prediction in 2017 for me. Looks like big players are preparing to cash out big later in this year, probably repeating 2017's run. After that, they'll start various headlines to bring the price back to the bottom again and repeat their printing machine. This is the second time that I notice the pattern, looks like they use the 4 year cycle prophecy to play their game.

This is also my presumption when articles or read up something like this where price had been shilled out to reach blah blah blah prices or mostly on the top or even turns out to be unrealistic.
I do only see 2 possible reasons.
•Bullish sentiment for people to buy more or in Fomo state and then make out some huge selling off on their bags
•They do just make out these kind of headlines for them to get more clicks and traffic specially now that we are still on the verge of confusion on where the market could possibly go.

When it comes to pattern then i dont really spot out some similarities or i had just missed it out.One thing im sure that there would be always a correction.
We cant just have this kind of situation like forever.There would really be some serious cash out time. 

[Hippocrypto]

Bloomberg is jumping on the bandwagon eh?

Or they're just riding the craze that bitcoin is getting because it has broken new ATHs many times within less than a year. $400k is a price that will make a lot of people in here rich.

But that's just speculation and don't want to put much hope in what they've said. Making it happen for this year is unrealistic.

Let's just say they're making an impossible thing out of their speculations, but who knows that $400k will be reached someday. Many rich personalities these says begun to divert their asset with cryptocurrency, because there's freedom in it compared with banking at our local fiat. Definitely it's a risky decisions, yet a very much rewarding passive income once you've achieved your goals successfully.

[kawetsriyanto]

Looks like big players are preparing to cash out big later in this year, probably repeating 2017's run.

It makes sense, the big players are trying to make the hype in Bitcoin, then the price is probably improving. They will cash out very soon once it meets their target, then they will stop the positive news. But why they seem too early to spread the news? Some experts state that we are still in the altcoin season, people now prefer to focus on altcoins. Or this is also the strategy of big players to maintain the altcoin season as well?

[Oasisman]

Smells like $100k prediction in 2017 for me. Looks like big players are preparing to cash out big later in this year, probably repeating 2017's run. After that, they'll start various headlines to bring the price back to the bottom again and repeat their printing machine. This is the second time that I notice the pattern, looks like they use the 4 year cycle prophecy to play their game.

Yep, they're working on what they love to do.
I'm thinking big players would start selling once Btc reach $100,000 mark this year, and then a big crash will follow.

Bitcoin stabilizing at this certain figure could mean another bullrun is coming. The reason why I was thinking of a $100,000 target before everyone starts selling, since majority of the investors and predictors are expecting the 6 digit figure Btc price since Btc starts it's rally in 2020.

Bloomberg really loves to hype up everything he thinks he can take advantage of and monetize.

[Natalim]

I guess the bull run will be over soon, everyone is already into it, this giant media is now being bullish on bitcoin with some unrelialistic short term prices, it will more attract investors to come in and joined the FOMO train, I can't imagine how bad the correction here. 

[Ridwan Fauzi]

The media only focus on their reputation, they will give bad statements when bitcoin (in this case) is banned by almost all countries, but when many countries are still fair towards bitcoin and many companies choosing bitcoin as their investment place then what they will do is give a positive statement against bitcoin. This is because there will be a lot of people will read about bitcoin information in their media.

As for bitcoin prediction, yeah indeed there is a chance for bitcoin up to $400.000 even more than that. We have strong fundamental here, yeah instutional investor still give a good interest into bitcoin. As we have mentioned many time when mass adoption came then we will see a huge increase for bitcoin, and it has happened now.

[Ryker1]

Well, imagine bitcoin being backed by gold as gold owners move their Gold to Bitcoin? Like hell, bitcoin perhaps be richer than Dollars.
It is indeed, dollars are now worthless. It is only backed by trust and not with resources already and the system has been manipulated properly. Perhaps we had to have further studies with currencies. However, there’s a scary side to it. If bitcoin went crazy, countries will start to control it and the government have guns and a stupid scale to take over.

[tippytoes]

The media only focus on their reputation, they will give bad statements when bitcoin (in this case) is banned by almost all countries, but when many countries are still fair towards bitcoin and many companies choosing bitcoin as their investment place then what they will do is give a positive statement against bitcoin. This is because there will be a lot of people will read about bitcoin information in their media.

As for bitcoin prediction, yeah indeed there is a chance for bitcoin up to $400.000 even more than that. We have strong fundamental here, yeah instutional investor still give a good interest into bitcoin. As we have mentioned many time when mass adoption came then we will see a huge increase for bitcoin, and it has happened now.

That's how media manipulate the perception of its readers. And for those that are not really educated with crypto, they are really giving false hopes to newcomers. That's when a newbie will have a disappointment. Once they get in, they thought, it is an easy peasy market. And if they lost, they will blame bitcoin for their losses, which is really not right. For the readers, they should be smart about what they are reading, as not what they read is all true.

[Kemarit]

Looks like big players are preparing to cash out big later in this year, probably repeating 2017's run.

It makes sense, the big players are trying to make the hype in Bitcoin, then the price is probably improving. They will cash out very soon once it meets their target, then they will stop the positive news. But why they seem too early to spread the news? Some experts state that we are still in the altcoin season, people now prefer to focus on altcoins. Or this is also the strategy of big players to maintain the altcoin season as well?

That's how they are good at, and it's a win win situation for them and for their clients, continue to hype Bitcoin in mainstream media, wait for it to reach $100k or more this year and then cash it out to get a huge profits. Sooner or later this kind of positive shilling will pay out.

But what does it means to us? We need to be very cautious, read the news, and ride the waves when they are going to dump it. Might be hard to see though, but just stay long, observe and make the right decision.

[adaseb]

I think the reason they make these predictions is so the people who bought BTC at like $20K don't sell it until it reaches $400K. Then most of wall street takes profit at around $399K and the retail trader doesn't get a chance to sell. Another reason is to get people to buy today at $60K and if it reaches $400K, its a 6x gain. So much better than most of wall street stocks. However people don't realise that a $400K a coin the market cap will be crazy high and unsustainable.

So in my opinion I think if we see $100K it will be remarkable however even that will be a tough way to keep priced suppresed. Especially since many will take profit at $100K who bought at $20K. Keep in mind it will be over $2T pretty much and $400K is what $7T. It will be very difficult for it to keep a price so high for a long time. I don't think its possible.

[Fortify]

The trouble with gold is it became rather useless during the pandemic. I think most people would be comfortable physically carrying any gold they have to somewhere in order to sell it - however if everywhere is closed or makes it too difficult to sell, then it has somewhat shown itself as a weak store of value. There is no chance I'll be posting thousands of dollars worth of gold coins or bars, whatever insurance you might put on the package it will be too vulnerable to getting stolen or even lost accidentally. Bitcoin also has a fixed amount unlike gold which can inflate and it is much easier to distribute cryptocurrency across borders without oversight from greedy tax authorities. It really does have many (virtual) advantages over holding physical metals.