Bloomberg: Growing demand and limited proposal will ensure the growth of bitcoin before $100 000 – Bits Media

Analysts by Bloomberg Intelligence consider, that the growth of demand and clarity with legislative regulation in 2022 year will allow Bitcoin to break out of the range in $30 000-$60 000.

Analysting team, headed by Bloomberg senior strategist in exchange products McGlun(Mike McGlone) claims, that market indicators of the cost of bitcoin indicate the formation of a line, denoting the lower price:

"It means, that traders, accustomed to the range from 30 000 to 60 000 dollars, can be disappointed, When Bitcoin begins to grow ".

Analysts resemble, What from the beginning 2021 years of tactically oriented buyers twice had the opportunity to purchase bitcoin from the lower limit and sell at a double price near the upper limit. but, Judging by the data, which are operated on at Bloomberg Intelligence, The trend may end. The most likely way of bitcoin is growth. The McGloun team declares, that BTC, probably, will find support for approximately 30% below 52-week sliding average-support level, which Bitcoin reached in January 2022 years after its last achievement in 2020 year.

Bloomberg analysts did not dare to predict, when bitcoin reaches the mark in $ 100 000 dollars. However, the factors listed, influencing growth: 

“These include growing demand and limited proposal. As well as clarity with regulation, which should come in 2022 year. Note, what, Unlike China, The USA is not going to ban cryptocurrencies ".

Exchange trader and blogger Justin Bennett (Justin Bennett) also thinks, that investors, Those who want to buy bitcoin by $30 000, will be disappointed. According to him, The “bull trend” is preserved on the market, And a reversal for bitcoin can only begin with the fall of the dollar index (Dxy). Cryptocurrency expert Benjamin Cowen (Benjamin Cowen) Last week expressed an opinion, that a return to the “bull trend” in the Bitcoin market will occur in three to nine weeks-if the Nasdaq and S exchange indices and s&P 500 will demonstrate a long growth. Popular cryptocurrency analyst Willy Wu (Willy Woo) considers, that despite the “high level of fear” in the digital asset market, It is too early to talk about the predominance of "investors-medals".