Bloomberg Analyst Doubles Down on Big $100,000 Bitcoin (BTC) Prediction – Here’s His Timeline

Bloomberg’s lead commodity analyst Mike McGlone is doubling down on his forecast for a six-figure Bitcoin (BTC) price ticket.

In a brand new interview with Kitco Information, McGlone says that adoption and demand for Bitcoin seem like gaining sufficient steam to push BTC to $100,000 in lower than three years.

“Right here’s the important thing factor about Bitcoin. To me, it’s a matter of time earlier than it will get to $100,000. The important thing reality is by code, the availability goes down. You’ll be able to’t change it. Adoption and demand are rising. Until you anticipate that to reverse – which I don’t – I feel it’s going to speed up. Each signal I see it’s accelerating. It’ll proceed appreciating. It’s only a matter of time. 

Proper now, I feel it’s at that time the place it’s attending to very low costs. We must always look again from the long run [at this] as a really low worth like we glance again on the NASDAQ on the backside in 2002.”

The analyst says that he expects Bitcoin to profit from a brand new chapter of economics whereby hypothesis is pushed by extra than simply how a lot cash the Federal Reserve is printing.

“These days are over. It’s again to constructing strong companies. No extra zombie corporations. If you happen to go underneath, you go underneath. Chapter could be good, and we get out of this.

In order that’s the interval I’m searching for. As soon as we get by way of this era of just a bit little bit of cleaning of the excesses of extra, we’re going again to a world the place primary, the US is totally dominant. Have a look at the US, the world’s largest power producer and web exporter, and the world’s largest agriculture web exporter. How did that occur? By adopting expertise.”

At time of writing, Bitcoin is altering fingers for $20,082, flat on the day.

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