Mike McGlon, a senior commodity strategist at Bloomberg Intelligence, predicts that Bitcoin will reach $ 100,000 by 2025 and says he expects the cryptocurrency market to develop into a “revived bull market”.
Popular traders share the fearless predictions of credible crypto McGlon. . Last month, the credible crypto bitcoin released an updated forecast for the price movement, pointing to a favorable blow to BTC.
In his assessment, McGlon said the strong reversal of Bitcoin is just beginning. The current beer market reflects the most dramatic inflation in the last four decades.
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Bitcoin Outperformance has been seen to recover the trajectory
Nevertheless, he insisted that once the bear market was over, Bitcoin would skyrocket and become the world’s most valuable asset.
“I hope Bitcoin will be the first asset that will restart its outperformance trajectory,” McGlon explained.
Mike McGlone sees Bitcoin hitting $100,000 by 2025. (Gearrice).
An increasing number of voices warn of a significant BTC / USD decline, with the bullish outlook limited in the long run due to macroeconomic factors.
Bitcoin has had a rough start to the year, but analysts still believe it will reach 100,000; When it is, if not, they say.
Despite recent price declines, many market observers are optimistic that crypto will soon cross the 100,000 threshold, although with a different view of when it will happen.
Deutsche Bank survey shows that BTC is hitting $ 100K
A recent study by Deutsche Bank revealed that approximately 25 percent of BTC investors predict that the value of cryptocurrency will exceed $ 100,000 in five years.
McGlon evaluates recent changes in opinion about the world’s largest cryptocurrency. After being treated as a safe inflation hedge for so long, he was asked why it became a risky asset.
Bloomberg analysts answered this question by saying that the emergence was only a “mature” young technology and resource.
He noted that Bitcoin’s 260-day volatility was comparable to that of 2009 Tesla, Amazon and 1980 gold.
BTC total market cap at $565.3 billion on the weekend chart | Source: TradingView.com
Goldman Sachs shares Deutsche Bank’s forecast 6
Speaking of gold, Goldman Sachs Group predicts that Bitcoin will continue to occupy market share from the precious metal as a result of the greater use of crypto assets, often with a quoted price forecast of $ 100,000 creating a possibility.
The CEO of crypto financing company Nexor predicts that BTC will reach $ 100,000 in one year, three years ahead of McGlon’s forecast.
Anthony Trenchev told CNBC that he believes the most sought-after cryptocurrency will exceed $ 100,000 “within a year”.
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Featured image from Medium, chart from TradingView.com