/2022 may be the year the United States “embraces” cryptocurrencies
2022 may be the year the United States “embraces” cryptocurrencies

2022 may be the year the United States “embraces” cryptocurrencies

Mike McGlone, senior commodity strategist economist at Bloomberg Intelligence platform, reconfirmed his previous predictions: bitcoin is going to hit $ 100,000 and token Ether, $ 5,000.

At a time when BTC is struggling to stay above 50 thousand dollars, something that it is not achieving, the market continues to make predictions about what the value of the cryptocurrency will be in the following months. famous.

For Bloomberg, it could reach $ 100,000.

Recent crashes in the digital currency market equates to Bitcoin and the vast majority of Altcoins maintain low buying activity, despite the many oversold signs that can be seen on the charts.

This situation destroys investors’ optimism because it reduces the possibility of a rise significant price in December 2021 and January 2022, specifically due to the low ja in the bullish momentum in the charts of the last weeks and months.

The price of bitcoin and predictions to the contrary

However, one of The best-known experts in the crypto community renewed their bullish forecasts.

This is Mike McGlone, who has reaffirmed his past price forecasts for BTC and for the second crypto by market capitalization, ETH .

Continue waiting for bitcoin to reach $ 100,000, and on the side of Ether, which is the unit of the Ethereum platform, at $ 5,000.

On the other hand, the specialist says that they expect the US to adopt digital currencies next year, through appropriate regulation.

He specifically speaks of “embracing” cryptocurrencies.

This will have a strong implication on prices, as indicated by McGlone in its latest report, adding that the unlimited supply of fiat currency would have to sustain the rise in prices, specifically in the two most important cryptos on the market, which have a limited offer.

The Fed and Rates

The value of BTC, ETH and many of the major cryptos were catapulted, and it is due to the great monetary stimulus policies that both the Fed and various central banks worldwide, which boosted the value of the stock markets and most of the assets.

However, the growth of inflation and the resistance of the labor market in the United States may make the Fed to reduce its stimulus measures next year, something that is leading to a feeling of repulsion to risk assets.

Similarly, as McGlone points out, it may cause the stock to bitcoin and ethereum continue to rise even if stock markets plummet, as it may be heading into a macroeconomic context next year that paves the way for more popular digital currencies.

Bitcoin, Bloomberg and cryptocurrencies

Digital assets that demonstrate strength against equities near the end of 2021 can forecast a stable performance of crypto assets in 2022.

In this way, the analyst thinks that a collapse in the stock market could be profitable for BTC and cryptocurrencies, which seems to be on the way to $ 100,000, and going to become a great store of value, similar to gold.

To conclude, McGlone indicated that he sees it mostly as something that is a matter of time, especially for the economic reasons of the growth of demand in the face of falling supply.

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