Bloomberg: Bitcoin ‘has had a tendency of adding zeroes to its price’
Cointelegraph
Published Oct 05, 2020 03:50PM ET
Updated Oct 05, 2020 05:20PM ET
In its latest crypto newsletter, Bloomberg observes that Bitcoin (BTC) "has had a tendency of adding zeroes to its price," noting that the asset previously went from $1,000 to $10,000 in less than four years. Maturation may have slowed this trend somewhat, but Bloomberg does not appear to believe it has reached a full stop. They noted that such a rise could occur again, though it may not be for some time:
Though this prediction might appear bold on the surface, it is rather conservative compared to other forecasts we've seen in recent months. A crypto analyst known as "PlanB," has recently stated that Bitcoin is still moving in accordance with the Stock-to-Flow Model, which forecasts a $100,000 price by late 2020.
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Written By: Cointelegraph
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