According to Bloomberg, Bitcoin will approach the record high of about $20,000 this year if it follows 2016’s trend. Bitcoin is mirroring the year 2016 return to its previous peak. That was the last time supply was halved, and the third year after a significant peak. By the end of 2016 the crypto about matched the 2013 peak. Fast forward four years and the second year after the almost 75% decline in 2018.
Bloomberg lists two more features, which could attribute to an upcoming price to 20.000$ based on the increasing attention toward the asset. Firstly, the report outlines the rising interest in futures trading on cryptocurrency exchanges and regulated platforms such as CME. This shows a “rapid pace of maturation and a tilt toward higher prices.”
The second indicative measurement is the growing number of active Bitcoin addresses. Despite still being a long way since the ATH from late 2017 and early 2018, this metric has experienced a notable increase as of late and is currently at a two-year high.