Bloomberg: BTC rate will reach $ 400,000 by the end of 2021

Bitcoin is often criticized for its high volatility, however, Bloomberg's senior commodity strategist MikeMcGlone believes that very soon investorswill turn to cryptocurrency during risk-free periods. According to McGlone, this process is already in full swing, and 2021 could be a watershed year for the recognition of cryptocurrency as a defensive asset.

“Bitcoin is on the way to becoming globalreserve asset. The leap from maturity in 2021 could be a factor in turning bitcoin into an asset that will be chosen to mitigate risks. "He writes.

#Bitcoin in Transition to Risk-Off Reserve Asset: BI Commodity — Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view.pic.twitter.com/Ycr1LSqEAJ

- Mike McGlone (@ mikemcglone11) March 26, 2021

McGlone accompanied his commentary with a graph onwhich showed that the current bullish cycle is in line with the trends of 2013 and 2017. If the previous scenarios are repeated, a new peak may be at around $ 400,000, the chart shows. For this, bitcoin must rise in price eight times, and the Bloomberg strategist expects that this will happen already this year.

McGlone's forecast overshadows analysts' expectationsfocusing on the stock-to-flow model - it assumes that Bitcoin will only rise to $ 288,000 by 2024. Although the strategist does not specify the specific factors behind the growth of the price of the cryptocurrency to the specified levels, the idea that bitcoin reduces portfolio risks, and does not increase them, as was previously assumed, has recently been increasingly engaging market participants.

SkyBridge Capital senior portfolio manager Troy Gajeski, speaking with Bloomberg today, stated that Bitcoin is a must for investor success in 2021.

Troy Gayeski of SkyBridge Capital says holding a meaningful Bitcoin position may be key to a «good to great» yearhttps://t.co/XDzISaRdC8 pic.twitter.com/J70qih0kVt

- BSurveillance (@bsurveillance) March 26, 2021

“We believe that by the end of this year, peoplecould potentially look back and say, “If you've had a significant position in bitcoin, this has been a good year for you, or even a great one. If you do not have such a position, it may be much more difficult for you to achieve the desired results, given all the events that we discuss in the context of chaotic monetary policy, interest rates and valuations. ", - he said.

According to Gaeschi, his position in bitcoinown company accounts for 13% of the portfolio. Speaking about cryptocurrency volatility, he noted that this is the price you have to pay for higher performance.

"This is a unique opportunity where the said risk is actually paid for."- he added.

The investor announced that usually SkyBridgeThey are more conservative about the choice of position sizes, but the situation was different with Bitcoin, as they feared missing out on a rare opportunity. Initially, SkyBridge relied on its standard position size of 4-8%, but the subsequent rise in the price of bitcoin led to an increase in its share in the portfolio.

“It's pretty obvious that if it happenssome big move, then it will be somewhere in the short term. We started investing little by little in mid-November and increased our share to 5.5% in December. These are all our costs. From that moment on, we did not add any capital ", - he said.

In the future, SkyBridge intends to adjust the size of the position, added Gaeschi, but right now bitcoin is at a promising point and is taking advantage of the confluence of three factors:

1. an increase in the money supply,
2. distribution and adoption,
3. halving cycle.

On the admissibility of including Bitcoin in a portfolioMorgan Stanley, the first major US investment bank that is preparing to offer its clients access to cryptocurrency, recently started talking. Its analysts, however, say that the inherent risks do not allow placing more than 2.5% of capital in Bitcoin.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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