Bloomberg’s latest edition of the Crypto Outlook, published on October 5, shows that the Bloomberg Intelligence team continues to be bullish for Bitcoin (BTC), stating that it was on track for a $100,000 price target by 2025.

• Saying that BTC “has had a tendency to add zeros”, the team puts Bitcoin price appreciation down to increasing adoption, though at a slower pace than before
• They accept that the technology could fail, but that their indicators show positive signs for the asset
• It also states that most demand and adoption measures point to Bitcoin experiencing upward growth
• One other highlight from the report is the suggestion that Bitcoin is likely to cement its position as digital gold, noting the high correlation between Bitcoin and gold
• Bloomberg has been very bullish on Bitcoin this year, suggesting that a bull run with a target of $20,000 would be achieved by year’s end