Macroeconomic indicators indicate BTC growth to $50,000

According to Bloomberg analysts, the price of bitcoin could rise to $50,000 in 2021.

“Bitcoin will retain itsIn our view, macroeconomic and technical indicators, as well as supply and demand indicators, support$50,000 target, which implies a market capitalization of about $1 trillion., Bloomberg analysts write in their monthly report.

Supply and demand is now on the bull side, as only 900 new coins are mined todayper day compared to 1,800 BTC in 2017, and institutional participation is increasing.Open interest in the CME bitcoin futures market exceeded $1 billion for the first time in history.

Analysts note that the value of assets under the management of the bitcoin trust Grayscale recently exceeded the level of $10 billion.The trust has halved almost 70% of the new BTC from May 11, when the remuneration for the block's mining in the bitcoin network has halved.

According to analysts, central banks are unlikely to reduce in the near futureor stop their stimulus programs, which suggests that the upward trend will be maintained next year.

According to Bloomberg, historical data also show an increase to $50,000:

“The increase in 2017 follows a reduction in supply in 2016 to 1,800 coins per day.”

History repeats itself as bitcoin's recent move to a new historic high of $19,920 comes about seven months after the May 11 halving.A similar price move occurred after halving in July 2016.

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