October 7, 2022

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Bloomberg Analyst Doubles His $100,000 Bitcoin (BTC) Forecast — Here's His Timeline

Bloomberg Analyst Doubles His $100,000 Bitcoin (BTC) Forecast — Here’s His Timeline

Bloomberg Lead Commodity Analyst Mike McGlone Doubled His Six-Digit Bitcoin Forecast (BTCThe price of the card.

In a new interview with Kitco News, McGlone said that Bitcoin adoption and demand appears to be gaining enough strength to push BTC to $100,000 in less than three years.

“That’s the main thing about Bitcoin. To me, it’s only a matter of time before it hits $100,000. The bottom line is that supply is declining. You can’t change it. Adoption and demand are increasing. Unless you expect it to reverse — which it doesn’t. I do – I think it will accelerate. Every tick I see is accelerating. It will continue to appreciate. It is only a matter of time.

Right now, I think at that point it comes down to very low prices. We must look back from the future [at this] As very low as we look back at the Nasdaq’s bottom in 2002.”

The analyst says he expects Bitcoin to benefit from a new chapter in the economy where speculation is driven by more than just the amount of money the Federal Reserve is printing.

Those days are gone. He’s back to building a strong business. No more zombie companies. If you go down, go under. Bankruptcy can be good, and we’re out of this.

This is the period I’m looking for. Once we get through this period of purging a bit of excess excess, we’ll be back in a world where the number one, completely dominant United States is ranked. Look at the United States, the largest producer and exporter of energy in the world, and the largest net exporter of agriculture in the world. How did this happen? by adopting technology.”

At the time of writing, Bitcoin is changing hands at $20,082, which is flat on the day.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrencies, or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

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