Bitcoin back to $10k soon according to Bloomberg? - page 6.

The Sceptical Chymist

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Quote from: Oasisman on December 06, 2019, 12:48:27 AM

Well, I hope everyone is aware of the "main" purpose of these predictions is to to change the market sentiments.

I would usually say the same thing, and half the time I think news reports like this are sponsored by the companies whose stocks are being touted--but this is bitcoin Bloomberg is talking about, and I don't think they have any vested interest in it and I also don't think there are any investment firms pressuring them to pump bitcoin. This could be just a genuine prediction on Bloomberg's part (though I will always remain skeptical).

Anyway, they don't know where bitcoin is headed any more than the rest of us do. The market is going to do whatever it's going to do regardless of anybody's predictions. I've read high ones and low ones in the last year, and none of them have turned out to be completely accurate, and some of them weren't even in the ballpark.

$10k coming up? I hope so, and I definitely think it's possible in 2020. But it's also possible that bitcoin won't cross that mark, and all it would take would be a bearish sentiment to prevail. That could happen, but I'm keeping my fingers crossed that it won't.

Aikidoka

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I don't really believe their predictions to be honest! Nothing can be accurate while we're into bitcoin movement prediction. It's all about the news and the number of trades every day. Bitcoin's price will obviously increase if a lot of people join this community and starting to use bitcoin everywhere, also it can be increased if some big company starting using it, so mostly the bitcoin's movement are in people's hands.

johnwest

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I think this is predictable because we have already seen the bull rally this year and it can be expected that the bitcoin will definitely go past 10k mark sooner. Though these type of articles dont actually make any impact in the market now but still its a good sign for the community.

pixie85

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Don't fall for these predictions. These people are usually too bullish or too bearish and by these people I mean most big portals lead by CNBC. CNBC used to say that we're going to go to 25 thousand when we were falling down from the peak of 20.

It's the same attitude shown by bloomberg now as they were presenting earlier this year when they were calling Bitcoin a bubble that popped https://www.bloomberg.com/opinion/articles/2018-12-11/yep-bitcoin-was-a-bubble-and-it-popped
Now they are bullish again. What a joke.

Darooghe

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Bitcoins real value is around $25,000, the low value over the last few months was typical pump and dump day trade strategy, happens countless times every day and every week. this is how whales, wall street and market makers separate you from your money and get even more rich. I think it will hit somewhere between $15,000-$20,000 in next 5 months and then stabilize around $25,000 and then maybe in 2-3 years it will hit $86,000.

gabbie2010

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Bloomberg prediction that bitcoin would hit $10,000 soon is well acceptable unlike the tom lee outrageous prediction which doesn't hold water and purely exaggerations Bloomberg is a well respected media outfit globally and I am very sure they had made a thorough research before coming out their paper and their predicted price which is $10,000 is quite reasonable compared with the present price which stood at $7300+. bearing any negative fundamental news that might affect the price whatever dump that might follows the price can still recover to the predicted price.

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Quote from: cheezcarls on December 06, 2019, 12:08:49 AM

A recently released research paper from Bloomberg has painted a positive picture for Bitcoin heading into 2020. The key takeaways being that the major cryptocurrency should top $10,000 soon and that it will also follow a similar path to gold — which is in an upward trend, currently.

Bloomberg’s Bitcoin outlook for next year has highlighted adoption, a falling supply, and Tether’s influence on the market — all as positives for the price going ahead. More so, with only a few weeks to go, the prediction is that, if Bitcoin closes 2019 at $6,500, “support tilts favorably for 2020.”

Read the full news here

Everyone can predict or claim that Bitcoin and other cryptocurrencies can go or high or low to $X,XXX or so.

Now Bloomberg claims that in their research paper, they think that Bitcoin would really pump back to $10k soon. Of course, they can predict all they want. But let's face it.

Most of the predictions aren't accurate or correct at all. The cryptocurrency market is so unpredictable, that's the truth. We may not know exactly the day Bitcoin and other cryptocurrencies would pump or dump. It may happen in just a minute or a few minutes, an hour from now, few hours later, tomorrow, next week or so.

It's okay to have a positive outlook, but we have to face the reality. But let's just hope for the best though.

If anything this worries me, I do not forget that at the end of 2017 many of those people that call themselves experts were predicting that bitcoin will reach incredible prices like 80,000 or even 100,000 during 2018, and we know that didn't happen and we saw the market taking the opposite direction, and I do not forget either that at the beginning of this year many of the very same experts were predicting that the price of bitcoin will go down even further.

When I think about all of this it worries me that now everyone is bullish about what it could happen during the next year because that most likely will indicate that the price will go down.

Shenzou

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I mean there are people who make prediction based on nothing but assessment, and other that make prediction based on events that happened or going to happen, i assume when they say that the price is going to go to 10k they only say soon, and soon could be in a week or a month or even next year which makes their prediction useless and adds nothing, after being here a while i have learned that no one knows what is going to happen so never take them seriously.

agentx44

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Quote from: cheezcarls on December 06, 2019, 12:08:49 AM

A recently released research paper from Bloomberg has painted a positive picture for Bitcoin heading into 2020. The key takeaways being that the major cryptocurrency should top $10,000 soon and that it will also follow a similar path to gold — which is in an upward trend, currently.

Bloomberg’s Bitcoin outlook for next year has highlighted adoption, a falling supply, and Tether’s influence on the market — all as positives for the price going ahead. More so, with only a few weeks to go, the prediction is that, if Bitcoin closes 2019 at $6,500, “support tilts favorably for 2020.”

Read the full news here

Everyone can predict or claim that Bitcoin and other cryptocurrencies can go or high or low to $X,XXX or so.

Now Bloomberg claims that in their research paper, they think that Bitcoin would really pump back to $10k soon. Of course, they can predict all they want. But let's face it.

Most of the predictions aren't accurate or correct at all. The cryptocurrency market is so unpredictable, that's the truth. We may not know exactly the day Bitcoin and other cryptocurrencies would pump or dump. It may happen in just a minute or a few minutes, an hour from now, few hours later, tomorrow, next week or so.

It's okay to have a positive outlook, but we have to face the reality. But let's just hope for the best though.

These kind of news always hype us all up and I think it is necessary to have this. Since there are a lot of bad news showing up right now on the crypto market, it is best that we find something that would boost up our optimism so that we would strive to invest more on crypto. As more and more people becomes more optimistic, it will surely help on rising up the value of bitcoin and all the other altcoins will surely follow. It is very important I think that instead of seeing news about bitcoin's downfall, bitcoin's possibility of regaining its high value would show up more.

joinfree

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The crypto industry is all about predictions mate and this time around it makes a lot of sense with this price prediction knowing that bitcoin halving is just around the corner. This prediction is from a credible source so let's see if the crypto analysts are right with this one. Fill your bags people, this might be the last time you will have bitcoin at this low.

tulpe123

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10k is a fair price for btc, so im agree with them

Distinctin

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Quote from: Oasisman on December 06, 2019, 12:48:27 AM

Well, I hope everyone is aware of the "main" purpose of these predictions is to to change the market sentiments. Positive news/predictions can influence the retail investors and traders, so does the negative news.
These predictors doesn't really know how would the market will behave in the next hours, days, or months. They are only supporting their claims with some convincing TA's and market movement analysis to make it more believable. Neverthless, only the investors attitude could make the price move in both directions.

However, it affects the insights of newcomers and enlightens them. Good news and positive predictions will give influence to the market flows, even though it can't be of 100% guaranteed changes but it somehow gives courage for the community and never lose their hopes.
yes, I many not looking this for the possible happenings but we can't deny also that the chances are still there or just near to that, who knows actually?

peter0425

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while i know that bloomberg is just giving prediction here still i will be positive on this one.for so many threads mostly FUD and negatives about bitcoin why not be happy in posts like this?

if this means after halving?then i would love to wait for a year or two since the effect will surely take longer than expected just like the past halvings that we had.

Eugenar

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Well, that is quite possible to happen, we all know how the market of bitcoin behaves, and having a low market price in the nearly December last week will be the indication that the bullish phase from the halving impact even though not yet happening, will be experienced. Some are getting worried from the last months downtrend, and I think we need to hit the lowest dip and to take advantage of its opening for us to clearly be in a state of oversold, so the market will be then profitable.

Shasha80

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My advice is not to believe too much with other people's predictions, even though what makes predictions is big media like bloomberg. Because
no one can predict the price of bitcoin accurately, as we know the price of bitcoin is very volatile. So changes in prices can change suddenly. This
makes it difficult to predict, all we have to do is to analyze the market regularly. So we can anticipate if the price of bitcoin changes suddenly.
Indeed there is truth in predicting bloomberg in the near future it is likely that bitcoin reach the price of $ 10,000. If we see the price of bitcoin
which has begun to stabilize at the price of $ 7200- $ 7500 this is indeed a sign that bitcoin will soon towards the price of $ 8000, from there
bitcoin will continue to rise to the price of $ 10,000.

MURONDI

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no one knows the future, and there are no predictions that are 100% accurate, I hope the prediction is correct and bitcoin can rise above 10k, after a sharp fall in bitcoin, many traders panicked, hopefully now is entering the beginning of the upward trend.

michellee

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Many people predict the same as Bloomberg, but no one will know when it's happening. They can only say that the next year, bitcoin will increase but we need to wait again and again. We will see the volatility of the market this month, and I guess that it will be the same in the next year. But bitcoin will have time to increase higher although we don't have the right time when it grows. We can wait and buy bitcoin, and then hold again for some time. Or we can use that bitcoin to trade so we can add more bitcoin as the profit.

I am sure that many people would love to hold their bitcoin while they wait for the price increase higher. We will see that time, and if we already have many bitcoin, we can sell it at the highest price.

pakhitheboss

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Almost all studies or research which is related to Bitcoin price speculation have failed miserably. The cryptocurrency market is highly volatile and small technical analysis does not work here. I have heard so many of these research that I have stopped looking into them. Whatever they have analyzed I know will eventually happen. When it will happen? is the question.

CarnagexD

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Quote from: Slow death on December 06, 2019, 03:33:00 AM

no offense, but saying "soon reached $10,000" is something anyone can say, I looked at their report here:

https://data.bloomberglp.com/professional/sites/10/Bloomberg-Crypto-Outlook-Dec-2019.pdf

predict that the price could reach $10,000 next year is something that anyone can get right, I believe if some bet site bet if the price may or may not reach $ 10,000 next year all people would get it right and the site would go bankrupt. The arguments used in the report also bring nothing new. I would say they are looking for protagonism.

There is nothing new with these predictions. How many times this question was asked? a hundred? a thousand times. I did not see the price come up to $10000 this year amidst the mass predicted it to happen, so what's the point here? The intention of prediction announcement hides to words of positivity, they are trying to manipulate people to behave in the market for their personal interest. Hence everyone can predict it and has the chance to predict it correctly tho.

Fatunad

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Many of us here are expecting the btc to rise again and $10,000 is a realistic prediction for the coming months. Positive news like this from bloomberg is what we need to boost the market and make another run.

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