Bloomberg predicts continued growth of bitcoin

The Bitcoin price fluctuation range could be $10,000 — 50,000, and capitalization will grow to $1 trillion. According toAccording to Bloomberg analysts, the first cryptocurrency will be driven to new records by the unprecedented pace of quantitative easing and growth in the debt-to-GDP ratio, as well as the reduced rate of coin emission after the halving.

Experts believe that the current consolidation inrange $19,000 — 20,000 may stretch over the next few months, but growth will continue in the future. Analysts' optimism is based on fundamental shifts compared to the situation in 2017.

Over the past three years, open interest inBitcoin futures on the CME rose to $1 billion, the daily supply of digital gold decreased from 1,800 to 900 coins, and the value of funds in the GBTC trust of the investment company Grayscale Investments jumped from $200 million to $10 billion.

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According to analysts, the market capitalization of bitcoin in $1 trillion is only a matter of time.The corridor they built around the regression line demonstrates that this can2021-2022.

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Among other factors, analysts note the increase in volatility of the first cryptocurrency.180-day corresponding figure in recent days is only 1.8 times higher thananalogue of gold.

The report also mentions a reduction in the active supply of bitcoin.Based on the data of Coin Metrics, experts noted that the share of transferred onchaine coinsover the past year, the issue of the first cryptocurrency has decreased to 40%.In 2013 and 2017, when the price was forming significant peaks, this60 per cent.

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In conclusion, experts cited a graph showing the simultaneous growth of the cashrate and the price of bitcoin against the background of the increase in the balance of the world's central banks to global GDP (highlighted in yellow).The white downward line marked a decrease in the increase in the emission of the first cryptocurrency.

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We note that the aggregate short position of leveraged Bitcoin futures traders on the CME reached record levels.

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