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Opinion

$50K BTC in 2021? Bloomberg Analysts Join the 'Traditional Onslaught' Driving Bitcoin's Rally

A new crypto outlook from Bloomberg suggests BTC could reach $50,000 in 2021, topping off a month of major institutional momentum for the asset.

By Nathaniel Whittemore
AccessTimeIconDec 5, 2020 at 2:00 p.m. UTC
Updated Sep 14, 2021 at 10:38 a.m. UTC
AccessTimeIconDec 5, 2020 at 2:00 p.m. UTCUpdated Sep 14, 2021 at 10:38 a.m. UTC
Breakdown 12.5 $50k BTC Bloomberg

AccessTimeIconDec 5, 2020 at 2:00 p.m. UTCUpdated Sep 14, 2021 at 10:38 a.m. UTC

A new crypto outlook from Bloomberg suggests BTC could reach $50,000 in 2021, topping off a month of major institutional momentum for the asset.

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This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.

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On this edition of the weekly recap, NLW looks at the consolidating narrative of a bitcoin rally that is:

  • Being driven by institutional investors
  • Shifting the center of the industry from East Asia to North America 
  • Winning converts from major research houses and institutions 
  • Driving the price of bitcoin to new all-time highs

This week on The Breakdown:

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