Here’s Why BTC Will Reach 50K

As you all know, bitcoin just reached 47,500 USD as of writing this article, analysts from Bloomberg have actually studied bitcoin’s stock and have said that bitcoin is extremely likely to reach 50k within the next few weeks, without a breather.

Obviously other famous people rejected this claim, here’s 1 of the many posts made by famous investors:

Peter Schiff, an irrelevant old guy tweets one of elon musk’s Twitter posts.

A lot of hate has obviously came onto bitcoin, but I’m opting to listen to the professional analysts that have looked at bitcoin compared to this guy’s Twitter comment lmao.

Bitcoin is likely to see an increase in worth as more and more billionaires and investors decide to buy more and more bitcoin, just like how to dogecoin is getting the same amount of investing, there’s over 30 accounts that own over 1 billion dollars in bitcoin, some haven’t been touched since 2009 and some have been as active as depositing from February in 2021.

Here’s an image of bitcoin’s market cap and price.

"Assuming history is destined to repeat, one could expect further upside appreciation until BTC trades at 10x - 15x its 200-week moving average; at a weekly close of [USD] 7,904, such would imply a price between [USD] 79,040 and [USD] 118,560," said Kraken Intelligence, the exchange's team of in-house researchers, in their December 2020 Market Recap & Outlook report. (Got permission use their research - cryptospout)

That’s it for today, hopefully this post skyrockets, wish me luck!

All the sources I used and got permission from via email:

https://www.coindesk.com/bitcoin-price-could-hit-50k-in-2021-bloomberg-analysts-say

https://cryptonews.com/news/bitcoin-at-usd-50k-in-sight-as-there-s-room-to-run-higher-be-8845.htm

https://www.reddit.com/r/Bitcoin/comments/itups5/why_should_i_believe_that_btc_will_ever_reach_50k/

Thank you!