It is not good for the market. Just because big names are calling for bitcoin to be higher doesn't mean that the price will go higher, and when it doesn't that will hurt even more. I do not think the best way to go is to promote bitcoin as a price thing everywhere.
Definitely, go ahead and talk about how blockchain is revolutionary and talk about how bitcoin is the future of money and many things like that which doesn't involve the price at all, and say that it is a good long term investment because it will be a lot more common to use it in the future so getting it now would be a great bargain, all of these works perfectly.
However, when you put the price in there and talk about the price and it fails? That will only hurt the price even more and would disappoint people when it doesn't happen.
Topic: Bloomberg: “Bitcoin will approach record high of about $20,000 this year” (Read 688 times)
June 22, 2020, 03:36:40 PM
June 21, 2020, 03:56:54 PM
Is it good for the market? Probably, but then again they are just giving false hope, specially for beginners and it will not be positive experience for them if the market suddenly crashes this year or the prediction didn't get to $20k at the end of the year.
Even beginners must need to search and find themselves on what had happened on bitcoin markets in the past so that they will not be disappointed on unexpected events on this crypto space. An investor must need to be ready to face anything while risking their money as no one could speculate exact things still we need speculations to make ourselves ready for planning for future levels.Just in the first place, these forecasts have a definite purpose in order to speculate in the cryptocurrency market and perform certain manipulations.
Speculations are not new just because of cryptos. For every markets, there should be some soothsayers and market do react/ignore them on it own way. Spreading speculations and then manipulating markets with the expectation of trapping small investors must be part of every markets and protecting themselves against such manipulation is purely within individual's responsibilities as nothing could be done in the decentralized space. 
June 21, 2020, 11:02:56 AM
Everything is still possible to happen related to the growth of existing cryptocurrency such as the increase in Tether which is very great I guess, and related to the Bloomberg argument I think it also has a big chance to happen later this year because these arguments at least still make sense that remains normal growth lines are related to the situation that happened this year, because they usually analyze if growth will reach 100k or even more I think that analysis is very difficult to achieve especially market sentiment that is not always good and even difficult to cross the resistance line.
We can't really compare tether though, they just have to mint it (just like fiat) and balloon their marketcap. So obviously, it is very different as compare to BTC. Nothing against Bloomberg, but it seems they have their agenda behind with this prediction.
Is it good for the market? Probably, but then again they are just giving false hope, specially for beginners and it will not be positive experience for them if the market suddenly crashes this year or the prediction didn't get to $20k at the end of the year.
June 19, 2020, 04:21:13 AM
Everything is still possible to happen related to the growth of existing cryptocurrency such as the increase in Tether which is very great I guess, and related to the Bloomberg argument I think it also has a big chance to happen later this year because these arguments at least still make sense that remains normal growth lines are related to the situation that happened this year, because they usually analyze if growth will reach 100k or even more I think that analysis is very difficult to achieve especially market sentiment that is not always good and even difficult to cross the resistance line.
We can't really compare tether though, they just have to mint it (just like fiat) and balloon their marketcap. So obviously, it is very different as compare to BTC. Nothing against Bloomberg, but it seems they have their agenda behind with this prediction.
Is it good for the market? Probably, but then again they are just giving false hope, specially for beginners and it will not be positive experience for them if the market suddenly crashes this year or the prediction didn't get to $20k at the end of the year.
June 18, 2020, 01:06:01 PM
I think that it is worth reading the Bloomberg publication, which refers to the report of analysts from Morgan stanley who suggested, based on certain studies, that the world expects a second wave of the spread of coronavirus infection in the fall of 2020. If we take for example the indicators of the current period, then the economy of the affected countries may return to the pre-crisis level in the fourth quarter of 2020, according to studies of current indicators of the rate of GDP recovery. But in March, Bitcoin fell almost to 4,000 dollars, and today it has recovered again within the framework of 9,500 - 10,000 dollars. Based on this, the question arises of how the second wave of covid-19 will affect the cryptocurrency and the economies of the countries and whether we will all be ready for this. therefore, it is very difficult to predict something in this situation regarding Bitcoin prices even until the end of 2020.
June 10, 2020, 12:13:30 PM
Everything is still possible to happen related to the growth of existing cryptocurrency such as the increase in Tether which is very great I guess, and related to the Bloomberg argument I think it also has a big chance to happen later this year because these arguments at least still make sense that remains normal growth lines are related to the situation that happened this year, because they usually analyze if growth will reach 100k or even more I think that analysis is very difficult to achieve especially market sentiment that is not always good and even difficult to cross the resistance line.
June 10, 2020, 11:18:31 AM
It is hardly possible to accurately predict the price of bitcoin by the end of this year. There are many factors that indicate that its price in the next year or two can very significantly increase. Much will depend on how successful the further fight against coronavirus will be and how strong the global economic crisis will turn out, the onset of which is predicted in the near future.
In general, with a very good combination of circumstances, bitcoin may well reach a price of $ 20,000.
In general, with a very good combination of circumstances, bitcoin may well reach a price of $ 20,000.
June 10, 2020, 10:29:38 AM
Things are not looking that way, bloomberg could be a great newspaper and the authors are great I am sure, they are probably working on finances and journalism together and can read charts and basically all around be savant on trading so we should trust them, but they are still just humans.
Do not consider these articles as "bloomberg", the mayor didn't write this, some intern at some thrown to corner and not looked at desk probably given task about crypto since he is young and he wrote this, so we are talking about some 23 year old crypto lover writing and bloomberg publishing it on website since why not you know? Do not trust just because there is bloomberg name on it, dude has over 60 billion dollars and spent couple hundred just to be nominee and gave up quickly, he doesn't care about money all that much anymore let alone crypto.
Do not consider these articles as "bloomberg", the mayor didn't write this, some intern at some thrown to corner and not looked at desk probably given task about crypto since he is young and he wrote this, so we are talking about some 23 year old crypto lover writing and bloomberg publishing it on website since why not you know? Do not trust just because there is bloomberg name on it, dude has over 60 billion dollars and spent couple hundred just to be nominee and gave up quickly, he doesn't care about money all that much anymore let alone crypto.
June 10, 2020, 03:51:12 AM
Of course the OTC market affects the BTC market. Brokers fulfill orders on exchanges when they don't have OTC liquidity. When OTC supply dries up, buyers need to use exchanges and vice versa.
It's strange to me that a lot of people think OTC trading doesn't affect markets, but I think most people think about immediate price effect. If an OTC order is for 10000 BTC, it is at the same price and it doesn't cause price to suddenly spike, unlike on exchanges.
But you're right that it really does affect. Because the OTC broker who just sold 10k BTC still has to source and go to exchanges to get their bitcoin right?
June 09, 2020, 06:59:15 PM
I am ready to see those speculations that they are making for this year. It's one thing that I want to see during this hard time starting from January of this year. And if that will happen, we're being rewarded despite the beginning of this year wasn't good at all.
It's a fact that whenever bitcoin starts to rapidly increase, they will come to tell us that they have an idea of how much the price of bitcoin will be at the end of this year. But in reality, they're all giving mere guess and 50/50 is still the chance of seeing it.
It's a fact that whenever bitcoin starts to rapidly increase, they will come to tell us that they have an idea of how much the price of bitcoin will be at the end of this year. But in reality, they're all giving mere guess and 50/50 is still the chance of seeing it.
June 09, 2020, 06:58:20 PM
$20,000 this year? Most likely going to happen next year. I myself believed that the halving in May is not enough to produce the $20k within this year. We will going to expect those figures next year and we might be able to witness the new ATH if we were lucky. As for now, we buy low and HODL until the Bitcoin bull run starts. We never know if Bitcoin would hit a new ATH like $100k like what the others said.
June 09, 2020, 06:28:50 PM
How i wish that Bloomberg is like Harry Houdini that can predict things to happen,but its not though this brings positivity to Bitcoin supporter and may add enough strong and courage for us to Invest more and forget about selling until we reached that $20,000 again.
Anyway i still believe that this year will give us certain profit( maybe not big as what this thread means) so let us keep our currencies intact and if there are no rush please stop selling for a while just this year lets see what will happen.
The fact is that the Bloomberg report deals with the analysis of the bitcoin exchange rate for 2013 - 2014 and 2016 - 2018, where on the basis of this analysis it was concluded that before the end of 2020 we should expect an increase in Bitcoin prices of $ 20,000. It seems to me that primarily their statements are based on the bitcoin halving, as at the reporting point, after which the Bitcoin rate has changed in the past and will improve in the near future. It just seems to me that they were a little mistaken and reduced the period of a possible increase in the price of bitcoin, because according to the indicators of the past six years, significant changes in the cryptocurrency market should be expected already in the first and second quarter of 2021, and not until the end of 2020. but nonetheless, positive news invigorates cryptocurrency users and this is true.Anyway i still believe that this year will give us certain profit( maybe not big as what this thread means) so let us keep our currencies intact and if there are no rush please stop selling for a while just this year lets see what will happen.
Im aint saying that its not relevant but nothing can predict out on where the price would shoot up.This is a very speculative market, history can be made in a blink of an eye neither seeing a
very high increase or would go down to the ground.Lots of speculators in this field composing from ordinary people to popular ones, difference here is that they do make much more noise thats why
they do get that attention.
June 08, 2020, 05:56:31 AM
How i wish that Bloomberg is like Harry Houdini that can predict things to happen,but its not though this brings positivity to Bitcoin supporter and may add enough strong and courage for us to Invest more and forget about selling until we reached that $20,000 again.
Anyway i still believe that this year will give us certain profit( maybe not big as what this thread means) so let us keep our currencies intact and if there are no rush please stop selling for a while just this year lets see what will happen.
The fact is that the Bloomberg report deals with the analysis of the bitcoin exchange rate for 2013 - 2014 and 2016 - 2018, where on the basis of this analysis it was concluded that before the end of 2020 we should expect an increase in Bitcoin prices of $ 20,000. It seems to me that primarily their statements are based on the bitcoin halving, as at the reporting point, after which the Bitcoin rate has changed in the past and will improve in the near future. It just seems to me that they were a little mistaken and reduced the period of a possible increase in the price of bitcoin, because according to the indicators of the past six years, significant changes in the cryptocurrency market should be expected already in the first and second quarter of 2021, and not until the end of 2020. but nonetheless, positive news invigorates cryptocurrency users and this is true. Anyway i still believe that this year will give us certain profit( maybe not big as what this thread means) so let us keep our currencies intact and if there are no rush please stop selling for a while just this year lets see what will happen.
June 08, 2020, 12:52:45 AM
When the price starts to rise, many analysts appear making optimistic forecasts, this time we have the Bloomberg:
Bloomberg: “Bitcoin will approach record high of about $20,000 this year”
do you think the article's arguments are solid arguments?
according to the article Mr Tether will be able to enter the scene again and will cause the price to increase a lot:
What do you think? are you ready to see $20,000 this year or do you think that even with miracles operated by Mr tether the price will not reach $20,000 this year?
PS:
Mr tether just passed XRP:
Who knows in the future we will see Mr Tether in second place
Bloomberg: “Bitcoin will approach record high of about $20,000 this year”
Quote from: https://cointelegraph.com/news/bloomberg-bitcoin-will-approach-record-high-of-about-20-000-this-year
“Last year, the high was about $14,000, which would translate into almost double in 2020 if rotating within the recent band, and mean little in the big picture.”
do you think the article's arguments are solid arguments?
according to the article Mr Tether will be able to enter the scene again and will cause the price to increase a lot:
Quote from: https://cointelegraph.com/news/bloomberg-bitcoin-will-approach-record-high-of-about-20-000-this-year
According to the report, another major reason for the appreciation of Bitcoin is the rapid growth of Tether (USDT). Last May, its market cap stood at $4 billion. A year later, it expanded to $10 billion. The increase in the circulation of the stablecoin indicates greater adoption of crypto assets
What do you think? are you ready to see $20,000 this year or do you think that even with miracles operated by Mr tether the price will not reach $20,000 this year?
PS:
Mr tether just passed XRP:
Who knows in the future we will see Mr Tether in second place
How i wish that Bloomberg is like Harry Houdini that can predict things to happen,but its not though this brings positivity to Bitcoin supporter and may add enough strong and courage for us to Invest more and forget about selling until we reached that $20,000 again.
Anyway i still believe that this year will give us certain profit( maybe not big as what this thread means) so let us keep our currencies intact and if there are no rush please stop selling for a while just this year lets see what will happen.
June 07, 2020, 06:49:44 PM
$5k confirmed. Time to sell.
Is this kind of FUDs? Or a suggestion? 
You can say everything and it is not impossible but it seems unlikely to happen, mate.
Till now, I still believe that the positive trend in Bitcoin can continue. Bitcoin price is still struggling to break the next level. It's a good sign.
New ATH - Very likely in 2021
In 2020 - Debatable!
Even the new ATH in 2021 can be debatable as well. In 2020 - Debatable!
But yeah, it seems more realistic.Well, I don't expect too much on another surprise in Bitcoin price move this year. After some a big move before halving, I think we may face a correction time.
June 07, 2020, 06:20:27 PM
It's rather difficult to say given how much fake volume there is on altcoin exchanges. There is a huge OTC Tether market in China which draws on BTCUSDT liquidity at Huobi, Binance, and Okex. Since 2018, downside BTC volatility drove the Chinese market away from BTC and towards USDT. Nothing to do with altcoins, which are plagued by fake volume on exchanges:
OK. but the effects of OTC trading, no matter its volume, on bitcoin market hence its price is so small that it is negligible.
Of course the OTC market affects the BTC market. Brokers fulfill orders on exchanges when they don't have OTC liquidity. When OTC supply dries up, buyers need to use exchanges and vice versa.
I'm saying we know a huge Chinese OTC market for USDT draws on BTCUSDT exchange liquidity, so unlike altcoin markets (which have huge incentives to pump fake volume) these markets are likely be "real."
Even if we subtract Huobi from the equation, since they didn't make Bitwise's cut, just compare BTCUSD and BTCUSDT volumes at the 10 exchanges with "real" volume:
24-hour BTCUSDT spot volume (plus Bitfinex): $620,677,865
24-hour BTCUSD spot volume (minus Bitfinex): $244,247,346
Liquidity and volume is everything. I assume as long as USDT is trading ~ $1 that BTCUSDT markets have a huge effect on BTC price discovery. Whether people like it or not, Tether is a very important part of the BTC market.
When BTC finally confirms a long term bull market (past the June 2019 high) some of those massive outstanding USDT holdings are going to start flooding back into crypto. That's bullish.
June 07, 2020, 05:15:30 AM
I've been closely following posts by Bloomberg, as it may outperform ETH given its market cap, although I see it a bit difficult, chances are, everything in Crypto can happen, but the fact that it's a stablecoin makes it Some interests are leaning on some investors who support blockchain.
every day I am convinced that Tether will be number 2 in coimarketcap in 3 years or less.
The economic damage hasn't even started to warm up. Economies have been in suspended animation. Only now when reality is eased back in is when it'll start to bite. A lot of businesses will have no clients to go back to. A lot of employees won't have a job to go back to.
with this manifestation that is having in the USA it is evident that the economic problems will be bigger than imagined and the opposition politicians are taking advantage of this situation to create more unrest in people and as people have no job and things have become more expensive , everything starts to get more chaotic
Let's be honest with each other, Bloomberg has always been very very bullish on Bitcoin (I suspect they have a ton of it but they are actually a software company at heart)
anyone who has bitcoin keeps making the price more than $ 20,000 to make a lot of profit
but the pandemic really caused the drop to be right at the worst possible time so I do not think we are going to see $20k anymore.
I agree with you, $ 20,000 for this year in my opinion is something that will not happen.
June 07, 2020, 04:52:58 AM
It's rather difficult to say given how much fake volume there is on altcoin exchanges. There is a huge OTC Tether market in China which draws on BTCUSDT liquidity at Huobi, Binance, and Okex. Since 2018, downside BTC volatility drove the Chinese market away from BTC and towards USDT. Nothing to do with altcoins, which are plagued by fake volume on exchanges:
OK. but the effects of OTC trading, no matter its volume, on bitcoin market hence its price is so small that it is negligible. so we shouldn't really care how much Chinese or any other group of people in different parts of the word are trading bitcoin using USDT off the market.
June 06, 2020, 09:42:20 PM
New ATH - Very likely in 2021
In 2020 - Debatable!
I do agree that's it more likely 2021 as well unless there's more of accumulation right now since the pandemic is still raging on and people tend to find alternative for use like cryptocurrency other than fiat. I think we may see a drop later and coming months if we based on past halving data, $20k isn't the ideal price this year. In 2020 - Debatable!
June 06, 2020, 03:21:24 PM
I have seen many such predictions. Some of them were seriously substantiated, some not, but almost all of them were equally successful (like a coin ). It would be nice if the authors of such forecasts reinforced their confidence in them with real money (with the ability for an outside observer to monitor the trading position of the forecaster).
At the moment, this forecast (if successful) gives + 100% profit in less than a year. If the one who did it believes at least a little in it, then he is obliged to make a large financial bet on the success of this forecast.
). It would be nice if the authors of such forecasts reinforced their confidence in them with real money (with the ability for an outside observer to monitor the trading position of the forecaster). At the moment, this forecast (if successful) gives + 100% profit in less than a year. If the one who did it believes at least a little in it, then he is obliged to make a large financial bet on the success of this forecast.
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