{"id":29110,"date":"2020-09-24T10:21:23","date_gmt":"2020-09-24T07:21:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29110"},"modified":"2025-08-27T15:08:28","modified_gmt":"2025-08-27T12:08:28","slug":"bloomberg-analyst-bitcoins-fair-value-is-15000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-analyst-bitcoins-fair-value-is-15000\/","title":{"rendered":"Bloomberg analyst: Bitcoin’s fair value is $15,000"},"content":{"rendered":"

Bloomberg Intelligence’s chief commodities strategist Mike McGlone believes Bitcoin should be valued at $15,000. He arrived at this conclusion by examining the growth in active addresses since 2017, according to Cointelegraph.<\/p>\n

\n

\u201cBitcoin\u2019s hash rate continues to rise and recently updated<\/a> its historical maximum. The number of active addresses is also rising. The key metric illustrating adoption\u2014the 30-day moving average of active addresses\u2014corresponds to a price nearer to $15,000 when measured on the basis of a 2017-based auto-scaling,\u201d McGlone said.<\/p>\n<\/blockquote>\n

\"Bloomberg<\/p>\n

30-day moving average of Bitcoin addresses. Source: Glassnode<\/a>.<\/p>\n<\/div>\n

McGlone remains optimistic about Bitcoin’s prospects. He sees Bitcoin as leading the \u201cparadigm shift toward digital money and a store of value\u201d and allows for a small probability of alternative scenarios.<\/p>\n

\n

\u201cOn our chart, you can see the dynamics of on-chain activity \u2014 hash rate and active addresses. They should not reverse to support a rise in Bitcoin’s price,\u201d the analyst concluded.<\/p>\n<\/blockquote>\n

In late June, McGlone forecast a jump in the price of the first cryptocurrency to the $13,000 resistance level. Not long before, he said it would inevitably break through $20,000 by year-end.<\/p>\n

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Bloomberg Intelligence’s chief commodities strategist Mike McGlone believes Bitcoin should be valued at $15,000. He arrived at this conclusion by examining the growth in active addresses since 2017, according to Cointelegraph.<\/p>\n","protected":false},"author":1,"featured_media":29111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1145],"class_list":["post-29110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29110"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29110\/revisions"}],"predecessor-version":[{"id":29112,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29110\/revisions\/29112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29111"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}