Bloomberg named three factors that will ensure the growth of bitcoin

The latest Bloomberg Crypto Outlook email highlights three factors that could make a huge contribution tothe bull race of bitcoin, as well as evidence that the main cryptocurrency continues the process of becoming as digital gold.

The first decisive factor that will catapult the BTC price isvolatilitybitcoin.The report confirms that the cryptocurrency has experienced the lowest levels of volatility compared to oil in recent memory, indicating that Bitcoin is gradually moving into the mainstream and gaining growing appeal as a digital equivalent to gold.

The newsletter states that the main indicators of demand andBitcoin adoptionremain favorable with a noticeable increase in the number of on-chain addresses on-chain and open interest in futures.

Bloomberg added that bitcoin will continuesurpass such altcoins as Ethereum (ETH), Litecoin (LTC), etc. Based on the statistics of the cryptocurrency market, it is concluded that the price of bitcoin will increase to $ 12,000.

According to the analysis in the message, for the last yearBitcoin recorded a 12% loss. Ethereum, which has recently shown the best results of price growth relative to Bitcoin, however, during the same period it lost 21% against the US dollar. On the other hand, XRP and Litecoin fell 56% and 65.2%, respectively.

In addition, Bloomberg concluded thatBitcoin is a champion in the field of adoption, which can be tracked based on the Grayscale Bitcoin Trust (GBTC) fund indicators. The organization experienced a large influx of buyers and at some point acquired more bitcoins than were mined by bitcoin miners for a certain period of time.

Finally the report states thatinflation policies pursued by central banks, will be the third factor that will lead Bitcoin to another record high. Inflation will force people to invest in cryptocurrency No. 1, using it as a means of accumulation.

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