• Bloomberg analyst suggests Bitcoin price could reach $100,000 if historical trends hold true
• Bitcoin is on track for its fourth consecutive monthly increase since 2021
• Standard Chartered Bank, BCA Research, and Bloomberg Intelligence all highlight possibility of Bitcoin reaching at least $100,000
Bloomberg Predicts Potential BTC Price Surge
A recent statement by a Bloomberg analyst suggests that BTC could reach $100,000 if historical trends hold true. This raises the question – is now the right time to buy Bitcoin and capitalize on this potential price surge?
Record Consecutive Monthly Increases
Bitcoin is on track for its fourth consecutive monthly increase since March 2021. The cryptocurrency was trading at around $27,900 during the US session with other digital assets like Ether, Binance Coin, and Cardano also rising.
Historical Trends Suggest 260% Surge in Value
Historically, four-month winning streaks have led to an average 260% surge in Bitcoin’s value over the following year according to Bloomberg data. If this trend continues, the largest digital asset could reach a record high of $105,000.
Factors Influencing Growth
The 80% rebound in 2023 has been influenced by factors like the Federal Reserve’s potential shift to looser monetary policy concerns about fiat currency stability and the upcoming halving event. Recently Standard Chartered Bank BCA Research and Bloomberg Intelligence have all highlighted the possibility of Bitcoin reaching at least $100,000.
Crypto Winter Over – Could Reach 100K By End Of Year
The crypto winter has finally ended and according to a research report by Standard Chartered Bank Bitcoin (BTC) could potentially reach $100,000 by the end of 2021. Contributing factors may include banking sector crisis which reinforces role as decentralized scarce digital asset as well as reputation as safe haven store of value and means of remittance . Since beginning of year bitcoin has experienced 65% increase.