Rising demand will spur Bitcoin price in 2020

Bloomberg sees a bullish trend for the 2020 Bitcoin price. The experts do not assume that Bitcoin will play a role as a currency in the foreseeable future. However, its value storage function in connection with a growing distribution set the course for a positive price development in the current year.

The US news portal Bloomberg has an optimistic outlook for the 2020 Bitcoin price. In a recently published crypto report, the magazine paints a picture of a growing adaptation of Bitcoin, which is increasingly valued by investors for its qualities as a store of value.

    The fact that a store of value with limited supply and increasing acceptance is more likely to gain value will, in our view, continue to support Bitcoin in 2020, while the primary trends of 2019 that favor the first-born cryptocurrency over the competition continue.

Bloomberg analysts estimate that the 2020 Bitcoin price will be roughly in the 2019 channel: between $ 3,300 and $ 14,000. However, with a bullish tendency:

    Another year in the trading range is likely for Bitcoin, but with a greater propensity to win, we think. Prices are more likely to approach the high of around $ 14,000 in 2019,

Bloomberg speculates.