Bloomberg: Bitcoin Price Can Go Up To $400K

Bloomberg analyst Aaron Brown thinks the Bitcoin price could go up to $ 400,000. In his latest essay for Bloomberg, Brown points out that the ongoing Bitcoin rally is different from the rally in the past due to strengthening foundations and financial developments in the world rather than FOMO.

According to Brown, the crypto money market may boom and if future price movements are similar to previous bull markets, Bitcoin prices could go up to $ 60,000 to $ 400,000 before the price falls sharply.

Brown said that the last two rallies in 2013 and 2017 were primarily driven by retail investors, underlining that the current $ 270 billion crypto money market is larger than 2013 ($ 1 billion) and 2015 ($ 3 billion) in all aspects.

The analyst points out that there are more crypto currency investors in the market than in the past. Brown also recalls that in 2018, more than $ 30 billion of corporate and investment capital began to create new platforms on crypto currencies.

Brown also highlights important developments on the regulatory front. According to him, the expected regulations can be implemented thanks to large institutions such as Facebook, Goldman Sachs, JPMorgan Chase and Fidelity investing in the sector.

Although the overall market situation seems solid, Brown also considers the possibility of a collapse in the sector. However, it also emphasizes that as the sector matures, the rate of market crashes decreases. For example, the price of Bitcoin is now subject to 20 percent price corrections rather than hard price corrections of 85 percent at the end of bull runs.

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