"The report says that “something needs to go really wrong” for Bitcoin not to increase in value. "
Erm, such as?
The actual report actually lists a bunch of factors that support their opinion, so maybe they're talking about a number of these going off the mark:
https://data.bloomberglp.com/professional/sites/10/Bloomberg-Indices-Outlook_Cryptos_June-2020.pdfTo name a few:
Bitcoin Upper Hand vs. Crypto Market Like Gold vs. Commodities
History Indicates Bitcoin Toward $20,000 in 2020
Maturing Bitcoin Gaining Upper Hand; Nasdaq, Crude Oil as Guides
Grayscale Trust Absorbing Bitcoin Supply
Bitcoin Futures May Be a Driver to Sustain Above $10,000
$8,000 Bitcoin Base - Transactions, Hash Rate
There are a lot more, but those are what primarily caught my eye. The report seems to be worth a read, at least.