Report Says that Bitcoin Could Hit $15K

Report Says that Bitcoin Could Hit $15K

By Abhimanyu Krishnan | News | 16 Oct 2020


A report published by Stack Funds on October 15 makes a bullish prediction of $15,000 for Bitcoin (BTC) by the end of 2020.

  • Stack Funds tracks the Market Value to Realized Value and says that that the 10, 50, and 100 Moving Averages of BTC indicate a bullish period ahead
  • The report cites “a repositioning in the market with a possible shift in the economic climate” as supporting Bitcoin’s advancement
  • It notes a similar trajectory to that of the 2017 bull run, which would put Bitcoin on the path towards $15,000
  • Bloomberg has previously said that Bitcoin is on track to cross $12,000, as well being on track to reach $100,000 by 2025
  • Several major companies have invested in Bitcoin in the past few months; Microstrategy invested $425 million, while Jack Dorsey-led Square invested $50 million
  • Stone Ridge also revealed that it had $115 million in BTC holdings, as well as funds in other cryptocurrencies

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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