Bloomberg named factors that will ensure the growth of BTC to $ 20,000

Back in early June, Bloomberg predicted that Bitcoin’s upward dynamics would continue tothe end of 2020.

One of the analysts, Mike McGlone, said that the cryptocurrency will be able to test values ​​at the $20,000 level.

its monthly review on the crypto market. Its authors confirmed this prediction and stated that by the end of this year, Bitcoin will be able to repeat the famous race three years ago.

The study says:

«After a 60% decline in 2014, by the endIn 2016, the cryptocurrency repeated the breakthrough of 2013. Fast forward four years and the second year after a 75% decline in 2018. Bitcoin will approach its all-time high of around $20,000 this year, in our opinion, if the 2016 trend repeats.

Analysts found that entering the third quarter,BTC started showing signs of a breakout. At the end of last week, the first jump was made - bitcoin exceeded $ 10,000. The coin did not stop at the achieved results and continued to move upward, exceeding $ 11,000.

Researchers identify two key drivers of BTC price growth:

• Firstly, it is the policy of low rates of the Federal Reserve, which leads to a drop in the profitability of investments in government securities.
• Secondly, this is an increase in inflation, which forcesinvestors go to risky assets and gold. Players also go to the crypto sphere, since they do not have alternative tools to preserve their capital.

Bitcoin corrected slightly today after reaching $11,269, with the largest digital currency now trading at $11,046:

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