Bloomberg Expects Bitcoin to Surpass $20K this Year

Bloomberg published a note in the last few days saying Bitcoin could double to $20,000 before the year is over; the digital currency has favorable fundamentals and technicals according to the note; Bloomberg sees Bitcoin breaking away from other cryptocurrencies and that the same forces helping to push gold higher are helping to push Bitcoin higher; “We see little upside in the ETH price absent a rising tide from bitcoin,” Bloomberg said according to Business Insider, adding that bitcoin “is breaking away from the pack in terms of adoption and is supported by almost-ideal macroeconomic conditions for stores-of-value amid quantitative easing.” Business Insider