Bitcoin will pump 1,200% in 2024: Bloomberg

According to Bloomberg experts, the recent pump in the trade price of Bitcoin is only the tip of the iceberg.

Bitcoin (BTC), a top digital asset which doesn’t require any introduction to the financial world, recently stirred the whole global financial market, as the trade price of this top market cap asset surged 6% within 24 hours with high liquidity. 

The current trade price of Bitcoin is $41,824 and this trade price is 151% high YTD, which is the highest return over any other crypto or non-crypto asset.

With the increasing price of Bitcoin these days, the top financial experts are supporting Bitcoin not as a digital asset but as the vanguard of a new monetary order that’s captivating Wall Street.

According to an analysis by Bloomberg experts, the recent pump in the trade price of Bitcoin is only the tip of the iceberg. These experts believe, the trade of this popular digital asset will hit $500k by the next year. 

Recently American crypto exchange Coinbase CEO Brian Armstrong also shared his opinion on the future of Bitcoin in the upcoming years and said that Bitcoin is now at that level where countries will consider buying & holding in the form of reserves, an alternative to holding fiat currencies.

Bloomberg’s report on Bitcoin price also considered the list of Bitcoin spot ETF applications with the United States Securities and Exchange Commission (SEC). Approval of these applications will allow big investors to invest in Bitcoin with a very high amount of money & further that will lead to billions of dollars in inflow in the Bitcoin market.

Alongside all these facts, we should also focus on the Bitcoin halving event which will take place in April of the next year. After Bitcoin halving the supply of Bitcoin will reduce rapidly, which means Bitcoin demand will increase more rapidly.

All these things will help Bitcoin to hit the $500k price target easily in the coming years.

Read also: Tether (USDT) generates a record $1.1 Billion Bitcoin profit