According to Mike McGlone, senior commodity strategist at Bloomberg, the most valuable cryptocurrency bitcoin It will reach $100,000 by 2025. The analyst bases his prediction on the limited supply of Bitcoin: as adoption and demand increase, so will the value of the limited number of BTC. On the other hand, according to the analyst, it also depends on the time frame that Ethereum is expected to reach $ 6,000.
Speaking to Kitco News, McGlone thinks the Federal Reserve’s “sledgehammer” is putting pressure on crypto in the short term.
“Here is the most important thing about Bitcoin. For me, it’s only a matter of time before BTC reaches $100,000. The fact is, according to the code, the supply is dwindling. You cannot change this. Adoption and demand are increasing. If you don’t expect this to reverse – which I don’t – I think (adoption and demand growth) will accelerate. […]
Right now, I think it’s coming at very low prices at this point. In the future, as we looked at the bottom NASDAQ in 2002, [buna] We will look at it as a very low price.”
Koinfinans.com As we reported, the popular analyst noted that gold, like Bitcoin, will eventually peak when things get better. But the fastest horse in the crypto race, according to the analyst:
“The important thing is that crypto is the fastest horse in the race. They have the advantage of rapidly evolving technology and look to the future where they will continue to be appreciated. It’s like 2000, things are getting worse, and actually even worse than 2000 because the bond market was trading really well back then.”
McGlone also touched on the recent Ethereum Merge and believes that a favorable macroeconomic environment is necessary for Ethereum to surpass Bitcoin’s market cap. “I haven’t seen this for a while,” said the analyst, who thinks Ethereum will eventually replace Bitcoin, but that will not happen in the current environment.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.