Bloomberg predicts that bitcoin will exceed $ 20 thousand by the end of the year

According to analysts at Bloomberg, many signs indicate that in 2020 the Bitcoin exchange rate will increase significantly and may even set new highs.

The company's latest report said that the prevailingIn the market situation will actively contribute to price increases. Analysts indicate an increase in interest in bitcoin by large investors amid a collapse in stocks during the coronavirus epidemic, as well as an increase in the accumulation of PTS by various funds.

In particular, the reserve of the largest bitcoin trust Grayscale reached 340 this yearthousand coins, which is 2% of their total market supply.

Bloomberg also believes that other importantthe factor is an increase in the volume of stablecoins, which contributes to the growth of the cryptocurrency market, an increase in the turnover of digital assets and serves as additional confirmation of increasing investor interest. For example, over the past year, Tether's capitalization (USDT) has increased from $ 4 billion to $ 10 billion.

Bitcoin price correlation with Tether.

Due to these and other reasons, analysts have come toI conclude that this year Bitcoin should significantly increase its value, unless force majeure happens. According to their forecasts, by the end of 2020, the MTC exchange rate can overcome the mark of $ 20 thousand and rise up to $ 28 thousand.

Earlier, the head of the data analysis department at CEX.IO Broker, Yuri Mazur, also said that in the future cryptocurrencies will be able to replace gold in terms of generating profit.

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