Bitcoin set for growth in 2020 due to fixed supply and increasing adoption, says Bloomberg analyst

The price of bitcoin (BTC) is set to increase this year, according to a Bloomberg analyst.

Mike McGlone, a senior commodity strategist for Bloomberg Intelligence, has said that the two factors - bitcoin’s fixed supply (21 million coins) and increasing adoption - are likely to support the world's largest cryptocurrency’s appreciation in 2020.

“Bitcoin is winning the adoption race, notably as a store-of-value in an environment that favors independent quasi-currencies,” said McGlone, adding: “In 2020, Bitcoin supply should increase about 2.5%, an all-time low on the way to zero growth.”

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