{"id":5189,"date":"2020-10-24T01:00:29","date_gmt":"2020-10-24T01:00:29","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=447491"},"modified":"2020-10-24T01:00:29","modified_gmt":"2020-10-24T01:00:29","slug":"bloomberg-intelligence-strategist-hints-at-bitcoin-bull-run-in-2021","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/bloomberg-intelligence-strategist-hints-at-bitcoin-bull-run-in-2021\/","title":{"rendered":"Bloomberg Intelligence Strategist Hints At Bitcoin Bull Run In 2021"},"content":{"rendered":"

Earlier in 2020, Bloomberg Intelligence claimed Bitcoin would soon reach $12,000<\/a> and would be a primary beneficiary in the post-pandemic world. The prediction coming true has the analyst who made the call sharing a new chart that appears to hint that the cryptocurrency is about to explode into another bull run, much like it did in 2017.<\/p>\n

Here’s what to expect if yet another forecast from the Bloomberg Senior Commodity Strategist is once again accurate.<\/p>\n

Bloomberg Senior Commodity Strategist: “Firmer” Crypto Market To Come In 2021<\/h2>\n

The year of 2020 will be remembered in the history books for several key reasons. It is the first widespread pandemic the modern technological world<\/a> has ever seen, the fiat currency is failing, and the tied are turning for Bitcoin.<\/p>\n

Early on in 2020, a Bloomberg Intelligence report on Bitcoin gave a general health update on the cryptocurrency, comparing it to the dollar, gold, Nasdaq, and more.<\/p>\n

Related Reading | “Massive” Wave Of OTC Buying Could Be Behind Bitcoin Bull Impulse<\/a><\/strong><\/em><\/p>\n

The cryptocurrency’s relative volatility compared to the Nasdaq<\/a> dropping to pre-bull market levels was an early tell for Bloomberg that something was about to happen in Bitcoin.<\/p>\n

The report also claimed that $10,000 would be broken soon enough and that the cryptocurrency would set its sights on $12,000. It did, and then some – tapping well over $13,000 this week.<\/p>\n

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#Bitcoin<\/a> breaching $12,000 resistance vs. the #Nasdaq100<\/a> backing away may indicate firmer underpinnings for the crypto in 2021. At similar levels since 2017, diminishing supply and the foundation of an 80% correction, along with an extended period of underperformance, favor BTC. pic.twitter.com\/erakFU37On<\/a><\/p>\n

— Mike McGlone (@mikemcglone11) October 23, 2020<\/a><\/p>\n<\/blockquote>\n