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I saw something interesting on Bloomberg lately. One of their strategists literally doubled the forecast for Bitcoin, bringing it to $10,000. Seems optimistic, right? Here's the problem: colleagues at the same Bloomberg basically say that reaching that level would require a nuclear war.
This is exactly the point. When predictions about cryptocurrencies become so extreme that they require an apocalyptic scenario to come true, maybe it's time to ask some questions. Not that $10,000 is impossible, but the divergence of opinions within the same newsroom is quite indicative of how difficult it is to make concrete forecasts in this market.
I often come across analyses that seem to be built backwards: first deciding the number, then finding a scenario that justifies it. Here, it seems the opposite, which is already more interesting. But the fact remains that for cryptocurrencies, forecasts always remain a more or less educated exercise in fantasy.
If you follow Bitcoin movements, you already know that the market doesn't work in such a linear way. Surprises come from unexpected directions, not from imaginary nuclear wars. In the meantime, let's keep monitoring how the real market moves.