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

Dec 5, 2020 at 2:00 p.m. UTC

Updated Sep 14, 2021 at 10:38 a.m. UTC

By Nathaniel Whittemore

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

By Nathaniel Whittemore

Dec 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:

Monday | Bitcoin Hits a New All-Time High: What Happens Next?
Tuesday | Why a $631B Asset Manager Just Changed Its Mind on Bitcoin
Wednesday | Josh Brown on Bitcoin’s ‘Respectability Rally’ and Why We’ll See Dow 100,000 in Our Lifetime
Thursday | Why Stablecoins Are the First Battleground of the Coming Crypto Regulation Wars
Friday | A ‘Santa Claus Rally’ for the Stock Market?

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Nathaniel Whittemore