Bloomberg Analyst: Bitcoin Will Hit $100,000 Once Global Economy Picks Up – CoinDesk

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Bloomberg Analyst: Bitcoin Will Hit 0,000 Once Global Economy Picks Up – CoinDesk
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In order to curb inflation, central banks around the world have pushed forward monetary tightening measures, impacting the performance of the global economy and financial markets, and also putting pressure on bitcoin prices. However, Bloomberg analyst Mike McGlone is optimistic that once the current high inflation is eased and the general economic environment stabilizes, Bitcoin is expected to soar to $100,000.

Mike McGlone, senior commodities strategist at Bloomberg Intelligence, pointed out in an interview on September 17 that the factors that trigger Bitcoin’s rally mainly come from increasing adoption and demand. He says:

“In my opinion, it’s only a matter of time before Bitcoin gets to $100,000. The key fact is that both adoption and demand are increasing unless you expect that to reverse, which I don’t think so. Bitcoin will Continue to appreciate, it is only a matter of time.

Mike McGlone pointed out that not only cryptocurrencies are in a cold winter, but the global macro economy can also smell the signs of “cold winter”, but he believes that compared with other asset classes, Bitcoin and cryptocurrencies are expected to perform better. Reasons It is cryptocurrencies that have the fastest growing technology and therefore have additional advantages.

The cryptocurrency market is going through a “big reshuffle,” which Mike McGlone believes is like the dot-com bubble burst in the early 2000s, when many companies were struggling, but it also paved the way for top companies like Amazon and eBay to grow level the road.

According to Mike McGlone, Bitcoin may become “digital gold” in the future, but it will take some time to get rid of the name of “risk asset”.

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In early June, Mike McGlone pointed out that if the stock market continues to decline at a similar pace in the first half of the year, June may be the last time the Fed raises interest rates, and then as investors re-enter the market, all assets are expected to usher in a rebound.

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