Bitcoin can hit $400,000 by 2022: Bloomberg

  • Investing.com
  • Cryptocurrency News
Bitcoin can hit $400,000 by 2022: Bloomberg
Credit: © Reuters.

By Aditya Raghunath

Investing.com --  Bloomberg’s ‘Crypto Outlook’, a monthly edition on the state of cryptos, said that Bitocin can hit $400,000 by the end of Q4 2021. The report said “Money managers reluctant to cross the Rubicon and allocate at least a small portion of funds may be at risk as Bitcoin simply does more of the same, advancing in price amid unprecedented low interest rates and elevated equities.”

The flagship cryptocurrency hit a high of over $64,500 a day before crypto platform Coinbase listed on the stock markets and topped a valuation of $100 billion for a brief while.

As the pandemic has forced investors to look beyond traditional financial assets, Bitcoin has emerged as the most popular alternative.

However, around 4% out of 200 professional investors surveyed by Bank of America (NYSE: BAC ) in their monthly Bank of America Fund Manager Survey say that Bitcoin is a bubble. They also said that Bitcoin is second on the list of most-crowded trades, after technology stocks. The monthly survey aggregates the thoughts of 200 institutional, mutual, and hedge fund managers around the world.

Around 10% of the managers said that they think Bitcoin will outperform in 2021. Bitcoin is up over 606% since April 30, 2020 when it closed at $8,624. As of this report Bitcoin is trading at $60,917.

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  • Dev Gupta @Dev Gupta
    40000 not 400000
    Like 3
  • Dev Gupta @Dev Gupta
    40000 aaega wait
    Like 0
  • Vivek Bhatia @Vivek Bhatia
    click bait media
    Like 5
  • Zakariya Ishaque @Zakariya Ishaque
    Edit the headline it can panic investors.
    Like 19
  • Ashok Goel @Ashok Goel
    I think writing 40000 in heading is just attract the readers, actally which downgardes the writer, either he is too clever or negligent
    Like 13
  • Ashok Goel @Ashok Goel
    I think writing 40000 in heading is just attract the readers, actally which downgardes the writer, either he is too clever or negligent
    Like 0
  • Rajesh Ramname @Rajesh Ramname
    No proof reading? Don't you know that educated people read?
    Like 9
  • Noushad Puthiyakath @Noushad Puthiyakath
    40,000 or 400,000??🙄
    Like 3
  • Haresh Aswani @Haresh Aswani
    What is the truth? the title or what you mentioned in the article?
    Like 0
  • Bhuva Amit @Bhuva Amit
    no value of 0.
    Like 2
  • arokia raj @arokia raj
    Is the heading of 40000 dollars purposely written or a typographical mistake? 400 K is more realistic
    Like 3
  • Sanjay Surendran @Sanjay Surendran
    Fix thr title
    Like 1
  • Kshitij Kale @Kshitij Kale
    just read the headline i am in total shock all fingers in my mouth, but after reading the details thank god 😂
    Like 6

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