{"id":564164,"date":"2020-10-09T17:43:33","date_gmt":"2020-10-09T14:43:33","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564164"},"modified":"2020-10-09T17:43:33","modified_gmt":"2020-10-09T14:43:33","slug":"report-bitcoin-btc-is-on-track-towards-100000-in-2025","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/report-bitcoin-btc-is-on-track-towards-100000-in-2025\/","title":{"rendered":"Report: Bitcoin (BTC) is On Track towards $100,000 in 2025"},"content":{"rendered":"
Quick take:<\/strong><\/p>\n The team at Bloomberg has released the October Crypto Outlook report<\/a> in which they predict that Bitcoin (BTC) will be valued at $100,000 by 2025. According to the report, Bitcoin’s value will continue appreciating in value<\/a> as witnessed since its launch in 2009. However, BTC’s growth in price henceforth will be at a slower pace when compared to its early days.<\/p>\n Furthermore, Bitcoin has a tendency to add zeros every few years<\/a> and an extra zero will be possible by 2025. The report explains this phenomenon as follows.<\/p>\n Bitcoin<\/a> could continue doing what it has for most of its nascent existence, appreciating in price on the back of increasing adoption, but at a slower pace as we see it.<\/p>\n The first-born crypto has had a tendency to add zeros to its price from around $10 in 2011. It took about four years to go from $1,000 to $10,000 in 2017, so doubling that time frame for maturation could get the price toward $100,000 in about five more years.<\/p><\/blockquote>\n In terms of the short-term price movement, the Bloomberg report postulated that BTC’s demand points to Bitcoin revisiting its 2019 peak value of $14,000 by the end of this year<\/a>. Additionally, Bitcoin inflows into the Grayscale Bitcoin Trust (GBTC), also point towards BTC rallying in the crypto markets.<\/p>\n Some of the leading Bitcoin demand indicators point to revisiting the 2019 high around $14,000, potentially this year…the market cap of the Grayscale Bitcoin Trust (GBTC) [is] approaching Bitcoin equivalent holdings of 500,000.<\/p>\n A year ago, this direct indicator of investor demand held less than half that amount. Inflows in GBTC, the largest exchange-traded product, absorbed about 70% of new Bitcoin supply in 3Q, we calculate.<\/p><\/blockquote>\n\n
Bitcoin is on Track Towards $14k by End of Year<\/h2>\n
Bitcoin’s Rising Prices, Increase Demand<\/h2>\n