Bitcoin(BTC) Price Rally To $100K – Bloomberg Analyst Predicts Timeline – Coinpedia – Fintech & Cryptocurreny News Media
Despite BTC’s price topping the charts at $69,000, it currently trades for significantly less than $20,000.
The question is: Can BTC revive itself and reach such incredible heights again? And if so, when?
Bloomberg’s top commodity expert Mike McGlone reinforces his prediction for a six-figure Bitcoin (BTC) price, offering insight into the expected BTC rally.
In a recent interview with Kitco News, McGlone claims that Bitcoin adoption and demand looks set to pick up enough steam to propel BTC above $100,000 in less than three years from now.
Bitcoin to $100K
- It is important not to forget that Bitcoin has the ability and potential to reach $100k. The essential reality is that it is a reducing offer, which is expressed in code. There is nothing you can do to change the outcome.
- McGlone added that demand and acceptance are growing. Since no one believes the trend will reverse, analysts predict it will accelerate. From what he can see, it’s picking up speed. It will rise further in value. Everything happens at the right time.
- At this moment, he believes that prices are about to bottom out. Everyone will look back in the future and consider this a very low price, much like the NASDAQ low of 2002, and many may even regret not taking advantage of it.
Will there be a change?
In addition, the economist predicts that Bitcoin will thrive in the next economic phase since speculation will no longer be based solely on the speed at which the Federal Reserve prints money.
“Those times have passed. Back to creating strong companies. No more zombie businesses. You sink or swim if you do. We are able to get out of this situation thanks to bankruptcy.”
“Then I seek that time frame. After this short period of cleaning out the surpluses, the globe will once again be dominated, primarily, by the United States. Consider the United States, the largest producer and net exporter of energy, as well as the largest producer and exporter of agricultural commodities globally. How did it come about? By using technology.”
On a more positive note, Bitcoin is currently trading at $20,082 and has not witnessed any further falls.
Although both bulls and bears have exerted considerable pressure on Bitcoin, the price has largely remained stable.
While traders are upset about the current price movement, Bitcoin appears to be preparing for a dramatic shift. It will be interesting to see if BTC will rise or if the other altcoins will eclipse the cryptocurrency monarch.
