A semi-annual report from Bloomberg shows that the price of bitcoin (BTC) may soon rise above $ 12,000.

Active addresses on the road
The report claims that Bitcoin and out-of-chain indicators for Bitcoin indicate an asset consolidation. One of the main metrics of Bloomberg is the number of active titles. Bloomberg has developed:

Bitcoin peaked at $ 12,734 in 2019 based on Bloomberg prices. Unless the forwarding is reversed, history indicates that Bitcoin can impose itself at this level. ”

Positive grayscale dynamics
Bloomberg notes that the continued growth of the Grayscales Bitcoin Trust Fund or GBTC and the decrease in the bitcoin spot market premium should also be interpreted as bullish for the market:

“On average over 30 days, the 20% insurance premium compared to the net base value is an average of 39%.”

Although we should know that GBTC growth has stopped recently.

The report says that the recent decision by the US currency watchdog's office to allow US banks to provide deposits for digital assets should remove recent obstacles to institutional investors. However, he notes that it is important for Bitcoin to break the $ 10,000 plateau (the report was probably gathered last week) to maintain this momentum.

While Bloomberg remains optimistic about Bitcoin, the level of optimism appears to be declining. At the end of June, the post indicated that Bitcoin was seeing resistance at $ 13,000; In early June there were expectations that it would hover over $ 20,000.

Source: CoinTelegraph

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