The price of Bitcoin should finally reach 100,000 dollars in the course of next year. According to Bloomberg experts, the current economic context tinged with inflation will give an additional boost to the mother of cryptocurrencies.
Bitcoin (BTC) is expected to hit new highs sometime next year, according to a new report from Bloomberg Intelligence, Bloomberg’s research-focused arm. Mick McGlone, Senior Strategist at Bloomberg, Expects Digital Currency Price to Eventually Reach the 100,000 dollars.
“The peak in commodities and the decline in long-term Treasury bond yields indicate risks of a resumption of deflationary forces in 2022, with positive ramifications for Bitcoin and gold”Mick McGlone explains on his Twitter account. The current economic context should indeed benefit alternative assets, like Bitcoin and cryptocurrencies, and traditional safe havens, like gold and precious metals.
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Bitcoin is on its way to $ 100,000
Bloomberg Report Says Bitcoin Could Profit From the possible crisis of traditional financial markets and the inflation of fiat currencies, such as the euro or the dollar, to establish itself as “a store of digital value ”. This is also the opinion of analysts at bank JP Morgan. According to experts, it is fears over king dollar inflation in the United States that have boosted the price of Bitcoin in recent months.
“Bitcoin seems to be on the path of 100,000 dollars. We see Bitcoin tackling 2022 with a strong bull market coming back after a break. We just see it as a matter of time, especially given the economic context of increasing demand versus decreasing supply ”, Bloomberg experts explain. Limited to 21 million units, Bitcoin is becoming an increasingly rare commodity every day, mirroring gold.
For the record, many analysts and market observers already expected Bitcoin to pass the $ 100,000 mark in 2021. After the price explosion and a record above $ 69,000, the mother of cryptocurrencies no failed to climb to the long-awaited grail. Recently, the price of Bitcoin has even fallen sharply, dragging most of the altcoins on the market with it. The currency is currently trading around $ 48,000.
