bitcoin Bloomberg analysts insist on their $100,000 target as price fluctuations continue.
Analysts who frequently voiced their expectations of $100,000 in 2021 bitcoin and Ethereum continues to keep its expectations high in particular.
In a recent research note, Bloomberg Intelligence analysts, repeating their previous analysis and stating that it is only a matter of time before Bitcoin reaches $100,000, pointed out that the price of Ethereum remains low relative to its value.
“Bitcoin and Ethereum are outperforming most assets, despite the FED turning off the money taps and raising interest rates.
Prior to the long-awaited POW-to-POS transition on Ethereum, its price may have remained low.
As the Russia-Ukraine war increases the value of Bitcoin as a global digital reserve asset, Ethereum becomes the collateral of the internet.
Although volatility in cryptocurrencies increased in the first quarter of 2022, disruptions in markets such as Nickel add to the narrative that Bitcoin is a 24/7 global trading tool and is on its way to becoming a digital collateral.”
War Has Made Bitcoin
Reiterating that it is only a matter of time before Bitcoin reaches $100,000, unless there is a shift in demand and adoption trend versus limited supply in Bitcoin, analysts maintained their expectations.
Stating that Bitcoin outperformed Oil during the Russia-Ukraine war, analysts said, “Bitcoin increased by 20% from the invasion to April 4. This is twice the earnings of oil,” he said.
Gold and Ethereum Interpretation
Stating that gold could not perform as expected after the war started, analysts stated that although they were optimistic about gold, the said low performance was an indicator of the transition to digital.
EthereumAnalysts stated that , will continue on its way as a deflationary asset, with an increase of 70% from the current price. 6100$They shared a price model pointing to .
“The merger that will move Ethereum from Pow to Pos will raise interest in ETH and turn it into an equities-like instrument with elegant supply and demand dynamics.”
*Not Investment Advice.