Bloomberg's Pie-in-the-Sky Bitcoin Call Looks Directionally Defensible

Bloomberg’s Pie-in-the-Sky Bitcoin Call Looks Directionally Defensible

http://joshuaweir.com/blog Based on a slew of recent predictions, bitcoin prices could more than double this year to $20,000. Or go to $250,000 by early 2023. Or $300,000 within five years. What’s confounding cryptocurrency traders now is the wide gap between such lofty forecasts and the banal reality: Since late April, bitcoin has traded in a range between roughly $8,500 and $10,200.   …

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