Bloomberg: $50,000 may be Bitcoin's next stop

Bloomberg: $50,000 may be Bitcoin's next stop

On January 9th, the Bloomberg team has released its January 2021 cryptocurrency outlook report. The report pointed out that $50,000 may be the next stop for Bitcoin. And as Bitcoin attempts to break through the resistance level of $50,000, Bitcoin's historical high of $20,000 is serving as its base point. The report explained that Bitcoin seems to continue its price discovery model in early 2021, and there may be a sudden negative news before it will return to the $20,000 support level. If past results can be used as a guide, the resistance near $50,000 will be easily broken in a year after the supply is reduced. Institutional bidding seems intensified. At the same time, the report also pointed out that Bitcoin is attracting traditional gold investors, and more traditional gold investors are increasingly allocating funds to Bitcoin. Bitcoin as an asset is maturing. (ENW)