fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, October 4, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
Online Crypto College
No Result
View All Result

Bloomberg strategist says Bitcoin will hit $100K by 2025

June 5, 2022
in Altcoin
Reading Time: 3 mins read
A A
Bloomberg strategist says Bitcoin will hit $100K by 2025
ShareShareShareShareShare
? Want to work with us? CryptoSlate is hiring for a handful of positions!

Bloomberg’s Senior Commodity Strategist Mike McGlone was recently a guest at Kitco News. He analyzed the current market and argued that Bitcoin will outperform all other assets in the world and hit $100 thousand by 2025.

According to McGlone, the great reversion is just getting started. The current market reflects the most significant inflation in 40 years, the first in most people’s lifetime. However, he also argued that once this period is over, Bitcoin will soar and become the best asset to hold in the world.

McGlone mentioned both Bitcoin and S&P 500 just returned to their 100-week mean at the end of May first time in two years. Nasdaq broke one of its prominent supports as Bitcoin broke its $30,000 support. McGlone argued as they’re all tied, the question becomes who will come out first and when.

He commented:

“For now, I expect Bitcoin to trade lower -I don’t know by how much.[…] it could get down to 20,000, I doubt it does. But whatever happens, I fully expect it to get to 100,000 dollars in two years.”

Bitcoin adoption

To explain the reasoning behind his conclusion, McGlone mentioned the adoption rate of all crypto assets, especially Bitcoin.

To stress more on the point of adoption, he shared the following statistics:

“Based on the total market cap of all equities on the planet […] crypto is about 1% of that. A few years ago, they were 0.01%. A few years before that, they were even less.”

He described Bitcoin as the digital gold in a world going digital with increasing speed. Moreover, as its adoption increases drastically, its supply diminishes due to its code. Therefore, McGlone concludes that Bitcoin prices will only skyrocket in the following years.

He also briefly mentioned Ethereum as a platform that revolutionizes the fintech industry, which provides a considerably high adoption rate. He argued that when the bear market is over and the right supports are found, Bitcoin and Ethereum will come out ahead of all other assets because their demand for adoption is much higher than the others.

He said:

“I think what’s going to happen initially is we’re going to get through this flush period […] then I fully expect Bitcoin to be the first asset to go back to its outperforming trajectory.”

Bitcoin’s volatility

McGlone also analyzed the recently changed sentiment towards Bitcoin. He was asked why Bitcoin became a risk-on asset while it behaved as a safe inflation hedge for so long.

McGlone answered the question by explaining that this volatility is just a maturation period of a nascent technology and asset. He mentioned:

“260 days volatility in Bitcoin is almost the same as Tesla’s, the same as what Amazon was in 2009, and the same as what gold was in 1980.”

He concluded his words by saying that once the transition period for Bitcoin is over, it will become a risk-off asset that can be safely used as an inflation hedge.

Posted In: Bitcoin, Analysis

Get an Edge on the Crypto Market ?

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Credit: Source link

Related articles

You Can Now Become a SHIB Millionaire For Only $7

You Can Now Become a SHIB Millionaire For Only $7

October 4, 2023
Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

October 4, 2023
ShareTweetSendPinShare
Previous Post

Crypto Firms Flock to Dubai for Regulatory Clarity as UAE Cleans Its ‘Grey’ Reputation

Next Post

Bitcoin Seen Dropping To $22K As Bear Market May Linger For A While

Related Posts

You Can Now Become a SHIB Millionaire For Only $7

You Can Now Become a SHIB Millionaire For Only $7

October 4, 2023

Shiba Inu is currently trading with five ‘zeros’ around $0.00000726. SHIB failed to delete its fifth ‘zero’ despite the launch...

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

October 4, 2023

Ripple’s XRP emerged as one of the rare gainers during a subdued 24 hours in the cryptocurrency market that saw...

SBF Trial: Day 1 concludes without a final jury selected

SBF Trial: Day 1 concludes without a final jury selected

October 4, 2023

The first day of the Sam Bankman-Fried (SBF) trial ended without a final jury being selected, and the process will...

Judge rejects SEC’s request to appeal Ripple decision

Judge rejects SEC’s request to appeal Ripple decision

October 3, 2023

The ongoing legal skirmish between the SEC and Ripple Labs added another chapter as Judge Analisa Torres denied the SEC’s...

Prosecutors say plea deal was never considered for Sam Bankman-Fried

Prosecutors say plea deal was never considered for Sam Bankman-Fried

October 3, 2023

On the opening day of  Sam Bankman-Fried‘s criminal trial in New York,  U.S. government prosecutors told the court that that...

Load More
Next Post
Bitcoin Seen Dropping To $22K As Bear Market May Linger For A While

Bitcoin Seen Dropping To $22K As Bear Market May Linger For A While

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

SBF Trial: Day 1 concludes without a final jury selected

SBF Trial: Day 1 concludes without a final jury selected

October 4, 2023
Why the Next US President Needs to Pardon Bitcoin Pioneer Ross Ulbricht

Why the Next US President Needs to Pardon Bitcoin Pioneer Ross Ulbricht

October 1, 2023
Prosecutors say plea deal was never considered for Sam Bankman-Fried

Prosecutors say plea deal was never considered for Sam Bankman-Fried

October 3, 2023
5 Current Trends in Cryptocurrency-driven Space

5 Current Trends in Cryptocurrency-driven Space

September 29, 2023
OpenAI Enables Web Browsing for ChatGPT

OpenAI Enables Web Browsing for ChatGPT

September 28, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • You Can Now Become a SHIB Millionaire For Only $7
  • Kevin O'Leary Foresees The End Of 'Crypto Cowboys' As Industry Shifts Towards Regulation: 'They All Have – Benzinga
  • Digitalbits Blockchain evolves into XDB CHAIN: A Game-Changing Rebranding Initiative.
  • Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In
  • Ethereum futures ETFs on CME begin with light trading volumes
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$27,540.000.01%
  • ethereumEthereum(ETH)$1,642.13-1.12%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.05%
  • binancecoinBNB(BNB)$212.77-0.81%
  • rippleXRP(XRP)$0.534.12%
  • usd-coinUSDC(USDC)$1.00-0.06%
  • staked-etherLido Staked Ether(STETH)$1,642.12-1.09%
  • solanaSolana(SOL)$23.23-5.12%
  • cardanoCardano(ADA)$0.255885-2.82%
  • dogecoinDogecoin(DOGE)$0.060956-1.58%
  • tronTRON(TRX)$0.0887521.10%
  • ToncoinToncoin(TON)$1.98-2.72%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.220.34%
  • matic-networkPolygon(MATIC)$0.583.10%
  • polkadotPolkadot(DOT)$4.02-2.72%
  • litecoinLitecoin(LTC)$64.26-2.51%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,499.00-0.34%
  • bitcoin-cashBitcoin Cash(BCH)$229.13-4.86%
  • shiba-inuShiba Inu(SHIB)$0.000007-1.14%
  • chainlinkChainlink(LINK)$7.56-0.70%
  • daiDai(DAI)$1.00-0.06%
  • leo-tokenLEO Token(LEO)$3.761.74%
  • avalanche-2Avalanche(AVAX)$9.692.97%
  • true-usdTrueUSD(TUSD)$1.00-0.05%
  • uniswapUniswap(UNI)$4.31-3.11%
  • stellarStellar(XLM)$0.1125301.04%
  • moneroMonero(XMR)$148.571.73%
  • okbOKB(OKB)$43.07-0.37%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • binance-usdBUSD(BUSD)$1.00-0.20%
  • ethereum-classicEthereum Classic(ETC)$15.55-4.48%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • cosmosCosmos Hub(ATOM)$6.98-3.45%
  • hedera-hashgraphHedera(HBAR)$0.048637-2.66%
  • filecoinFilecoin(FIL)$3.29-0.82%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • lido-daoLido DAO(LDO)$1.591.50%
  • internet-computerInternet Computer(ICP)$3.182.75%
  • crypto-com-chainCronos(CRO)$0.050131-0.31%
  • MantleMantle(MNT)$0.406790-1.45%
  • makerMaker(MKR)$1,424.90-2.10%
  • quant-networkQuant(QNT)$87.16-1.60%
  • AptosAptos(APT)$5.28-2.44%
  • vechainVeChain(VET)$0.016676-2.49%
  • optimismOptimism(OP)$1.30-4.14%
  • ArbitrumArbitrum(ARB)$0.88-4.57%
  • nearNEAR Protocol(NEAR)$1.08-2.57%
  • KaspaKaspa(KAS)$0.050341-0.33%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%