Bloomberg analyst predicts a “parabolic” rise in bitcoin …

Bloomberg analyst predicts a 'parabolic' rise in bitcoin ...

Bloomberg analyst predicts bitcoin’s “parabolic” rise in 2021

Senior Strategist exchange Bloomberg Intelligence Mike McGlone admits possibility “Parabolic” rise of bitcoin in 2021. To this conclusion he came after analysis of trends 2013 and 2017 years.

According to the analyst, the dynamics of distribution and elevated demand projected on previous trends foreshadow a successful future for cryptocurrency.

New highs – this next potential iteration, which can be only a question time, if something that we do not foresee will not disrupt the trend of wider distribution and ratios demand with limited supply “, – explains is he their position.

idea of Tom, that 2021 could be a repeat of 2017, has become widespread among cryptocurrencies investors against the backdrop of the halving in May, when the award for miners was decreased from 12.5 BTC to 6.25 BTC per block. As a result, annual inflation bitcoin was below the gold indicator, the most recognized protective asset.

After dropping the reward in July 2016, Bitcoin began to gradually grow until it reached full revs by the fourth quarter of 2017. As a result, in 18 months cryptocurrency added in price more 2 800%, notes on his graphics firm Fitzner Blockchain.

Bloomberg analyst predicts a 'parabolic' rise in bitcoin ...

Skeptics, but, declare that in such models more often Total demand is not taken into account, which remains an unpredictable parameter.