“Bitcoin can see 400 thousand dollars this year”

Although Bitcoin (BTC) is still criticized for its high volatility, a Bloomberg analyst believes crypto has become a “risk-free option” for investors.

Bloomberg Intelligence Kıdemli Emtia Stratejisti Mike McGlone, In his post dated March 25 He said that this year marks a turning point for the biggest cryptocurrency.

A retrospective goal of 400 thousand dollars

McGlone has published a graph of the average price of BTC / USD and the Bitcoin Liquid Index created specifically for corporate use.

“Bitcoin, which is on its way to becoming a global digital reserve asset, can turn into a risk-free asset with its maturity in 2021,” explained the strategist.

The chart, based on past price behavior, shows that BTC is possible to reach up to $ 400k in this bull market. This forecast overshadows other predictions, such as the stock flow model forecast that predicts BTC will average $ 288k by 2024.

Chart of BTC / USD price indices. Source: Mike McGlone / Twitter / Bloomberg Intelligence

Although McGlone has not revealed what factors are behind this view of Bloomberg, the idea that Bitcoin reduces rather than increases portfolio risk is on the agenda among companies this year.

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