I'm pretty bullish on Bitcoin, and even I wouldn't have predicted $400,000 BTC by the end of 2022. I'm thinking we will hit around $100,000 potentially by the end of this year or maybe the end of next year, but $400,000? Hot damn! Not sure I agree though.
Now I would just chalk this up to hopeful dreams, but this Bloomberg. Bloomberg is considered one of the most knowledgeable organizations in the world when it comes to finance. In fact, if you are willing to spend $48,000 you can get a Bloomberg data terminal in your office for 2 years.
"The company has been publishing a monthly edition of a “Crypto Outlook” report for some time now, covering a series of developments in the wider world of cryptocurrency that might be of interest to the financial sector. The April edition of “Crypto Outlook” was published on April 6, claiming that the “rising tide” of bitcoin adoption is foretelling a bullish phase of growth for the world’s number-one decentralized digital currency.
Specifically, the report made the bombastic claim that bitcoin will reach a price of $400,000 by the end of Q4 2021, basing this claim on several data points. First of all, the analysts have come to this figure through a series of calculations on bitcoin’s history, tracking its overall tendency for value to increase next to other factors like liquidity, volatility, number of bitcoin mining subsidy halvings and more. Although Bloomberg has quite sophisticated data analysis under its umbrella that back up bold declarations like this, there are also a number of broader factors that could lead to this price bump in 2021."
In most countries, you could live of 1 BTC if it was $400,000. Even at half that, that is a lifetime salary in many countries.
There is no question this train has no brakes and the future is very bright for Bitcoin as it continues to overshadow everything else. Just recently Bitcoin's market cap passed MasterCard and Visa combined crossing $1.1 trillion dollars. This "magical internet money" is here to stay and will change all financial institutions if they want it to or not.
Bitcoin is currently #6 top asset measured by market cap with Apple, Microsoft, Amazon, and Google the next targets to beat.
As my good friend Hodor has said, HODL.
This is not financial advice, you need to make your own decisions and use your brain. I cannot make those decisions for you, if you need advice, call your mom.
Posted Using LeoFinance Beta