Bloomberg Analyst shared Short and Long Term Bitcoin Expectations! Gold or BTC Answered the Question!

Waiting for the Fed decision tomorrow bitcoin and cryptocurrencies While it continues its horizontal course, the opinions about the market continue to come.

Finally speaking to Wolf of All Streets Scott Melker Mike McGlone, senior Commodity Strategist at Bloombergin the short term BTC and he said he is not bullish for cryptocurrencies.

McGlone stated that although he does not expect a rise in the short term, he is confident that it will rise in the long term, and that Bitcoin may reach six-digit numbers in the next few years.

Commenting on the overall market, McGlone said:

“The correlations have all gone almost one-to-one.

It was definitely on a downward path, but it has risen again this year. Here, the main leading indicator was crypto.

So from this point of view, I can’t get bullish on cryptocurrencies in the short term yet.”

bitcoinYellow metal, which is seen as the biggest competitor of gold Comparing BTC to BTC, McGlone maintained his long-term bullish expectation, arguing that Bitcoin could outperform gold:

“I expect Bitcoin to reach $100,000 in the next few years, probably around halving, by maybe 2025 at the latest.”

The famous analyst finally cryptocurrency the last major jolt in the market FTX He stated that the crisis cleared the market of bad actors, but unfortunately some well-intentioned actors were also hurt by these crises.

“Situations like these have really cleared the market in a longer-term way.”

Mike McGlone In his previous interviews, he said that Bitcoin will continue to rally in 2023 and FED’He argued that BTC could potentially outperform financial markets as the currency began to ease its monetary policy.

*Not investment advice.