Bloomberg Researchers Bullish on Bitcoin, Demand Points To $12,000

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A new 2020 crypto outlook report from Bloomberg has been released, revealing just how bullish the company’s analysts are on Bitcoin. The report puts a spotlight on the first-ever cryptocurrency’s digital scarcity and suggests that the current active addresses point to prices closer to $12,000 in the short term. First-Ever Cryptocurrency Matures Into Digital Gold Bitcoin and the cryptocurrency asset class is only just over ten years old, but it’s already being put to the ultimate test. The very fabric of its design will either prove its value now or face falling into obscurity. RELATED READING | BITCOIN SEES THIRD LOWEST VOLATILITY SINCE THE CRYPTO BUBBLE FIRST BEGAN Bitcoin was designed by Satoshi Nakamoto with digital gold on his mind. He sought to make an asset that shared the best features of gold but could exist digitally, outside of the reach of third-parties. Acting as a digital store of value…

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