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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40000 not 400000Like 3
40000 aaega waitLike 0
click bait mediaLike 5
Edit the headline it can panic investors.Like 19
I think writing 40000 in heading is just attract the readers, actally which downgardes the writer, either he is too clever or negligentLike 13
I think writing 40000 in heading is just attract the readers, actally which downgardes the writer, either he is too clever or negligentLike 0
No proof reading? Don't you know that educated people read?Like 9
40,000 or 400,000??🙄Like 3
What is the truth? the title or what you mentioned in the article?Like 0
no value of 0.Like 2
Is the heading of 40000 dollars purposely written or a typographical mistake? 400 K is more realisticLike 3
Fix thr titleLike 1
just read the headline i am in total shock all fingers in my mouth, but after reading the details thank god 😂Like 6