Bloomberg predicting BTC reaching $400K in 2021

[XCANA]

Considering the bitcoin history from inception, the report from this reputable media house still valid and shouldn't be discarded. This just mean the beginning of this bullish movement in bitcoin becasue of it history, $400k according to bitcoin chart is a very clear zone for realization and those who will benefit from this will be the long-term holders. Am topping my holdings again. 

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[Reatim]

"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.

First Who is Bloomberg to make prediction about Bitcoin? This is Obviously a "Media Riding Crypto" news .

I would appreciate if this comes from those we already Knew that Crypto related sites or individual but Bloomberg ?

They understand the popularity of Bitcoin this year and they don't wanna be late for the ride so even if they will look stupid yet they will release such Hari Houdini Prediction .

[just_Alice]

One shouldn't rely on Bloomberg with such things, as BTC price. Or anything else, for that matter. That's mass media, they only do whatever it will take to attract public attention. You've said it yourself: just recently they were saying that Bitcoin is a bubble, now they're wagering on its price? Just wait for another month and they'll release an article about how Bitcoin will decrease to $10k or something like that.

[Febo]

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.

I agree that $400k is probably to high prediction, but I dont think that is some sneaky prediction from them. They make many predictions and this one is just one that stick out. Also I would not compare $400k now with a $100k in 2017.  $100k back then was much more illusory.

[bitgolden]

First Who is Bloomberg to make prediction about Bitcoin? This is Obviously a "Media Riding Crypto" news .

I would appreciate if this comes from those we already Knew that Crypto related sites or individual but Bloomberg ?

They understand the popularity of Bitcoin this year and they don't wanna be late for the ride so even if they will look stupid yet they will release such Hari Houdini Prediction .

Bloomberg is a news agency, they are a media company but they are a software company for the financial companies that turned into a media company as well. I would guess that they would know somethings about crypto and all financial related stuff because they have been involved for so long that people they employ know what they are doing.

However there is a reality is that we are talking about something that is not going to be truth all the time, not just they could be wrong because they are human and they could be wrong which is one aspect of why they could be wrong, but there is also a fact that we are talking about media which is known to lie about things. However I do agree with this one, gold is definitely was a boomer investment asset whereas crypto became something for us, there are way too many millennials who are getting richer thanks to bitcoin and all other crypto so our generation will care more about crypto than gold.

[dunfida]

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.

I agree that $400k is probably to high prediction, but I dont think that is some sneaky prediction from them. They make many predictions and this one is just one that stick out. Also I would not compare $400k now with a $100k in 2017.  $100k back then was much more illusory.

Those numbers are indeed illusory and i do rather believe these kind of predictions are somewhat considered to be those potential bearish calls which might indicate that there might be some sell off later on.
When news or calls like this tends to be bullish then always contradict these calls and make it as a signal that they are trying to make fomo calls for those people who had bought earlier or in
cheap price specially whales or big institutions could even make more money and able to release those bags on the right time.

[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.

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.

I'm bullish for bitcoin and I want to see it that happen someday. But someday can mean maybe next year or more than that and I don't want to expect a lot with that prediction because I don't want to feel bad if someday it won't be reached.

There's no passive income on it, the value increases and that's why many of them starts to get into bitcoin too.

[The Sceptical Chymist]

Scanning the first page of this thread, I don't see any reference link for OP's claim here that Bloomberg made this prediction--and I'm far too effin' lazy to search for it.  OP, when you write something like that you really should provide a link.

But assuming Bloomberg thinks bitcoin is going to hit $400k this year, somebody on their crypto analysis team must be smoking some heavy drugs, because there's no way in hell it's going to get that high in 2021.  I do think $400k will eventually be reached, but I think (and this assumes demand for bitcoin remains high) it's going to take a few years at least.  And that's for the best; if that valuation was hit, let's say, next year, does anyone seriously believe bitcoin could stay there for long?  No way in hell.  You'd have tons of speculators selling like crazy, taking their profits off the table and buying Lambos and other foolishness.

Personally I'm satisfied that it broke $60k this morning (but has since fallen below that price).  Slow growth is good.  Exploding growth is scary and not sustainable, so let's hope Bloomberg is wrong.

[pilosopotasyo]

"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.

Can we trust Bloomberg with his prediction? obviously, while they are saying back then that Bitcoin is a bubble, they are storing Bitcoin of their own, now that they have stored enough they are making hype on the price, $400k in just a short period of time just doesn't make sense, the more realistic price is $100k and many experts have predicted this level if we are going to based in the current adoption movement

[adaseb]

"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.

Can we trust Bloomberg with his prediction? obviously, while they are saying back then that Bitcoin is a bubble, they are storing Bitcoin of their own, now that they have stored enough they are making hype on the price, $400k in just a short period of time just doesn't make sense, the more realistic price is $100k and many experts have predicted this level if we are going to based in the current adoption movement

Can you trust any of these analysis predictions? We got Mad Money, we got stock predictions from major banks and hedge funds, we got Motley fool and how many millionaires did they create with their "free" advice, probably none.

Thats why there is always some disclaimer saying that "this is for information only... trading is risky". Because they are making these articles to get headlines and that's about it. If I had to guess they probably just looked at 2017 how it broke $1K and went to $20K, so they just took $20K and multipled it by 20x and got $400K. And that is their analysis pretty much.

I find any of these predictions all useless whether for stocks or crypto. You are better off flipping a coin in my opinion or doing your own due dilegence.

[plr]

"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.

How did they come with that figure is a mystery, it's a long shot for me for the price to reach the $400k level there should be a lot of great news coming and many companies are coming to adopt Cryptocurrency, from now to next year, for the price to reach that level the price should be in the $15k level before the end of the year and that is to sustain the momentum.

[maydna]

I guess @OP refers to this article:

https://www.livemint.com/market/cryptocurrency/bitcoin-price-may-hit-400-000-level-in-2021-research-11617883768460.html

I guess there is other news about Bloomberg predicting, which you can find on search engines.

But I think it will need longer to reach $400k this year because bitcoin needs big support from many big companies. But we will see many predictions from other people or analysts that will say bitcoin will reach $xxk-$xxxk. You need to search by yourself and don't just believe those people predict how high bitcoin will increase because we don't know what will happen in the future.

[buwaytress]

Scanning the first page of this thread, I don't see any reference link for OP's claim here that Bloomberg made this prediction--and I'm far too effin' lazy to search for it.  OP, when you write something like that you really should provide a link.

But assuming Bloomberg thinks bitcoin is going to hit $400k this year, somebody on their crypto analysis team must be smoking some heavy drugs, because there's no way in hell it's going to get that high in 2021.  I do think $400k will eventually be reached, but I think (and this assumes demand for bitcoin remains high) it's going to take a few years at least.  And that's for the best; if that valuation was hit, let's say, next year, does anyone seriously believe bitcoin could stay there for long?  No way in hell.  You'd have tons of speculators selling like crazy, taking their profits off the table and buying Lambos and other foolishness.

Personally I'm satisfied that it broke $60k this morning (but has since fallen below that price).  Slow growth is good.  Exploding growth is scary and not sustainable, so let's hope Bloomberg is wrong.

I actually misread the report myself thinking it was $300k, when I commented on a post talking about PlanB's S2F (x or whichever version it's currently at, not following) $300k prediction in 2021... I found it quite strange Bloomberg happened on the same line of thought as PlanB.

But turns out they were actually 30% more optimistic haha. Here's the report. Bloomberg Monthly Crypto Outlook April 2021. Agree $400k in 2021 is scary...

You're welcome, OP.

[blckhawk]

"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.

$400k seems far to reach within this year, I think $100k is more feasible right now. Anyway, can we trust Bloomberg prediction though? especially in predicting price. What more I think is that they are just creating headlines that would attract readers just like a click-bait or something. Of course, they will tell something positive about Bitcoin since it is now in trend or performing better than they can imagine besides, large institutions and prominent people are now venturing with it but once the bear market begins guess what these bubble opinions will once release online once again.

[RealMalatesta]

I actually misread the report myself thinking it was $300k, when I commented on a post talking about PlanB's S2F (x or whichever version it's currently at, not following) $300k prediction in 2021... I found it quite strange Bloomberg happened on the same line of thought as PlanB.

But turns out they were actually 30% more optimistic haha. Here's the report. Bloomberg Monthly Crypto Outlook April 2021. Agree $400k in 2021 is scary...

You're welcome, OP.

I do not see that as scary, I just see it as more optimistic than realistic and that is why it doesn't really scare me. I mean there is the fact that we are talking about something much simple here with 100k usually as the target on bitcointalk, most people say that is the next target. These clowns at bloomberg that I never really liked are trying to put an unachievable goal for bitcoin and act as if it underachieved expectations when it doesn't reach there, that is all they are trying to do.

If you ask me what the purpose of this would be to make people go into bitcoin, get disappointed by the results, and when they are sad they go back to stocks, which bloomberg sells software for as well. So long story short, this is not realistic and I think we will not be 400k in 2021 at all, we will top at 100-150k and that is going to be the case for us.

[Furious 7]

~

$400k seems far to reach within this year, I think $100k is more feasible right now. Anyway, can we trust Bloomberg prediction though? especially in predicting price. What more I think is that they are just creating headlines that would attract readers just like a click-bait or something. Of course, they will tell something positive about Bitcoin since it is now in trend or performing better than they can imagine besides, large institutions and prominent people are now venturing with it but once the bear market begins guess what these bubble opinions will once release online once again.

It seems like a long way to reach $400k this year but in the crypto world it can happen but for me in one year term with a high price is absolutely impossible.
There are so many predictions that have been published in various news for the latest trends but all of that will be positive if many institutions have become part of the adventurers in crypto, it is not impossible that this year will be the biggest increase even in the following year how can it be But we have to see how many people meet in the future about bitcoin. Will it be the most important asset for him?
Now there are lots of opinions but this is a bit interesting because it raises the hype going on.

[Oilacris]

~

$400k seems far to reach within this year, I think $100k is more feasible right now. Anyway, can we trust Bloomberg prediction though? especially in predicting price. What more I think is that they are just creating headlines that would attract readers just like a click-bait or something. Of course, they will tell something positive about Bitcoin since it is now in trend or performing better than they can imagine besides, large institutions and prominent people are now venturing with it but once the bear market begins guess what these bubble opinions will once release online once again.

It seems like a long way to reach $400k this year but in the crypto world it can happen but for me in one year term with a high price is absolutely impossible.
There are so many predictions that have been published in various news for the latest trends but all of that will be positive if many institutions have become part of the adventurers in crypto, it is not impossible that this year will be the biggest increase even in the following year how can it be But we have to see how many people meet in the future about bitcoin. Will it be the most important asset for him?
Now there are lots of opinions but this is a bit interesting because it raises the hype going on.

We might have seen that it can really move that fast on a very high price but presuming again on hitting $400k for this year is something that cant really be achieved.
Its hard and we do need that full adoption scale speaking of that.

It might reach $400k but it wont really be in 2021.Its just too far and too early to make out those kind of price prediction.Id rather be eyeing on $100k instead.

Looking on the current situation of the market that we do even had a hard time on breaking 60k and if it does then next target will be 70.

[kawetsriyanto]

I guess the bull run will be over soon, ~~ it will more attract investors to come in and joined the FOMO train

If it attracts more investors to join, I don't think the big players will plan the Bullrun ends very soon. They won't let the chance to gain more money over only in a short time, so they will maintain this situation to get more from the hype of the crypto market. Also, we cannot compare the current Bullrun scheme with the previous Bullrun, it has some differences. Everyone must realize that the current Bullrun potentially lasts a long time, especially after some big supports like Elon Musk and his company joining crypto investment.

[Sithara007]

If we go by the 4-year cycle, then the next ATH should come by December 2021. Back in 2013 we had the first ATH, at $1260 per coin. And four years later, in December 2017, there was another ATH at $20,000 per coin. If we go by this trend, then the next peak should happen by 2021 December. Now I don't know whether $400,000 will be attained or not, but it is possible given the increase in userbase and acceptability during the 2017-2021 period.

[buwaytress]

I do not see that as scary, I just see it as more optimistic than realistic and that is why it doesn't really scare me. I mean there is the fact that we are talking about something much simple here with 100k usually as the target on bitcointalk, most people say that is the next target. These clowns at bloomberg that I never really liked are trying to put an unachievable goal for bitcoin and act as if it underachieved expectations when it doesn't reach there, that is all they are trying to do.

If you ask me what the purpose of this would be to make people go into bitcoin, get disappointed by the results, and when they are sad they go back to stocks, which bloomberg sells software for as well. So long story short, this is not realistic and I think we will not be 400k in 2021 at all, we will top at 100-150k and that is going to be the case for us.

To each his own! I say scary but that's just because a 90% drop from 400k becomes feasible if it happens this year (much like how a drop from 20k to 4k was realistic because of the way it rose to that level in 2017). Overheated demand tends to do that. But 90% drop means a rock bottom of $40k which, well, I'd take any time, if I'm honest.

A 150k top and bottoming nicely half of that is preferable to me, though, yeah.