Report Says that Bitcoin Could Hit $15K
A report published by Stack Funds on October 15 makes a bullish prediction of $15,000 for Bitcoin (BTC) by the end of 2020.
- Stack Funds tracks the Market Value to Realized Value and says that that the 10, 50, and 100 Moving Averages of BTC indicate a bullish period ahead
- The report cites “a repositioning in the market with a possible shift in the economic climate” as supporting Bitcoin’s advancement
- It notes a similar trajectory to that of the 2017 bull run, which would put Bitcoin on the path towards $15,000
- Bloomberg has previously said that Bitcoin is on track to cross $12,000, as well being on track to reach $100,000 by 2025
- Several major companies have invested in Bitcoin in the past few months; Microstrategy invested $425 million, while Jack Dorsey-led Square invested $50 million
- Stone Ridge also revealed that it had $115 million in BTC holdings, as well as funds in other cryptocurrencies