The Magazine for Asian Investors
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, estimates that the Bitcoin price will reach $100,000 and the cryptocurrency market will rebound.
McGlone said a strong reversal in Bitcoin amid the current bear market has just begun.
He emphasizes that when the bear market ends, Bitcoin prices will skyrocket and become the most valuable asset in the world. This is due to economic factors that affect the decline of the crypto market, such as inflation and interest rates. But there are still positive factors that will happen in the future.
Despite the recent drop in Bitcoin prices, many market watchers are still hopeful that Bitcoin will soon rise to $100,000, but it remains questionable when we will see that price.
Deutsche Bank, the largest bank in Germany, said that Bitcoin is worth $100,000, with 25% of Bitcoin investors predicting that the cryptocurrency’s price will exceed $100,000 in 5 years.
Goldman Sachs, a major U.S. investment bank, predicts that Bitcoin has taken a bite out of the gold market. As a result of the increasing use of cryptocurrencies, the most quoted price prediction for Bitcoin was $100,000.
Antoni Trenchev, co-founder of crypto finance company Nexo, predicts Bitcoin will reach $100,000 within a year.
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Monday, June 6, 2022