"According to Bloomberg, Bitcoin is replacing gold “more abruptly” than anticipated. Quotes a price potential of $400,000 in 2021."
Forget about the numbers...
This demonstrates how public opinion is generally improving.
Only in December did Bloomberg declare bitcoin to be in a huge bubble.
Bloomberg, welcome to the bubble.
Can we trust Bloomberg with his prediction? obviously, while they are saying back then that Bitcoin is a bubble, they are storing Bitcoin of their own, now that they have stored enough they are making hype on the price, $400k in just a short period of time just doesn't make sense, the more realistic price is $100k and many experts have predicted this level if we are going to based in the current adoption movement
Can you trust any of these analysis predictions? We got Mad Money, we got stock predictions from major banks and hedge funds, we got Motley fool and how many millionaires did they create with their "free" advice, probably none.
Thats why there is always some disclaimer saying that "this is for information only... trading is risky". Because they are making these articles to get headlines and that's about it. If I had to guess they probably just looked at 2017 how it broke $1K and went to $20K, so they just took $20K and multipled it by 20x and got $400K. And that is their analysis pretty much.
I find any of these predictions all useless whether for stocks or crypto. You are better off flipping a coin in my opinion or doing your own due dilegence.