[Digital Today Reporter Hyunwoo Choo] Bloomberg’s virtual asset investment report revealed that the price of bitcoin will rise to $50,000.
According to foreign media such as Coinpost on the 4th (local time), Bloomberg announced through the latest virtual asset report that after the bitcoin price broke the support line of $30,000 in January, $50,000 will be the first resistance line in the future.
In particular, the report pointed out that bitcoin is becoming more attractive to virtual asset investment than gold, comparing it to gold as a means of storing value. When forming investment portfolios, more and more cases include 5% of virtual assets such as bitcoin.
In addition, it explained that environmental variables such as the increase in digital transformation of companies and expansion of global liquidity are also contributing to increasing the demand for investment in virtual assets.
The report analyzed that the current high volatility of Bitcoin is also gradually decreasing. As of January 2021, the volatility range is rapidly decreasing, which is about twice as high as gold, and it is expected to stabilize at a level similar to that of gold by 2024.
Bloomberg predicts that, given the continuing digital transformation and the accelerating digitization of the economy and finances, Bitcoin will ultimately grow as an alternative gold asset in its investment portfolio.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.