Bloomberg analysts claim Bitcoin could go to $1,500, cite no evidence

17 Nov, 2018
by David Borman
News
Bloomberg analysts claim Bitcoin could go to $1,500, cite no evidence

Bloomberg recently ran an article claiming that analysts feel that the price of Bitcoin could drop down as far as $1,500. The article references these "analysts" but gives no real mechanism or reason for the predicted dip.

The article does offer a link that implies an explanation but it is for Bloomberg Professional Service subscribers only. This leaves the rest of us to speculate as to why the price would drop so low.

It is noted that the recent BCH fork is likely the cause of the dip and quotes Travis Kling, Ikagi hedge fund founder, who echoes those concerns:

“There’s a small chance that, it’s difficult to estimate, that something really bad could happen related to Bitcoin Cash that could then impact the entire crypto market."

While technically valid, it's vague to the point of being FUD. It is certainly possible that something could drive this market much lower, but if Bloomberg knows what that is, they aren't telling.

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