In its latest cryptocurrency newsletter, Bloomberg News indicated that Bitcoin (BTC) had a tendency to add zeros to its price.
The agency stated in its report that the asset had previously moved from $ 1,000 to $ 10,000 in less than four years.
The maturity may have slowed the trend somewhat, but Bloomberg doesn't seem to think it has reached a full stop.
The agency indicated that this rise could be repeated, although this may not happen for some time, saying: If the digital currency will repeat its previous gains With some maturity, it will need twice the time it took to add zero to $ 1,000 until it could reach $ 100,000 in 2025.
and although this prediction may sound bold on the surface, it is somewhat conservative compared to other forecasts we've seen in recent months, a cryptocurrency analyst says Known as Plan B recently, Bitcoin is still moving according to the stock-to-flow model, which predicts a price of $ 100,000 by late 2020.
In addition to historical trends, Bloomberg points out that fundamental supply and demand factors are supporting Bitcoin's rise, noting that about 90% of total supply has been mined, while continuing Institutional demand is emerging with the Gray Skill Bitcoin Trust (GBTC) whose holdings in Bitcoin close to 500,000.
The agency's short-term projections indicate that Bitcoin could reconsider its 2019 high of $ 14,000 by the end of the year.
