Bloomberg has released a report estimating this year's BTC price at $ 400K

Bloomberg has released a report estimating this year's BTC price at $ 400K
  • Bloomberg analysts are extremely bullish on Bitcoin, as evidenced by the April crypto report where they estimate the price at up to $ 400K later this year.
The crypto division of the world-famous media newspaper based in New York, Bloomberg has published an April report in which it brings a closer look at the Bitcoin market.

Although this 10-page report focused on various aspects of the Bitcoin market, perhaps the biggest surprise was the chart following past and working patterns.

Analysts tried to show the probable development in this graph if Bitcoin would continue in similar behavior as it was in 2013 when we saw 55x gain and also in 2017 when BTC increased by 15x.

April 2021 Edition / Bloomberg Crypto Outlook 2021

Thus, if the trend were similar and Bitcoin reached similar price extremes, analysts estimate that the price could reach $ 400,000 later this year, based on regression from the 2011 high.

We should also draw attention to the fact that in September, the 180-day volatility will equal the historical low of October 2015. It was in that month that another significant 50x growth started up to the peak in 2017.

Read also: Playboy enters the art of NFT

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