Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone predicts that Bitcoin’s price is expected to hit $100,000. According to him, Bitcoin won’t trickle down below $30,000 this year despite the bearish pressure in the market. Mike McGlone also claims that Bitcoin is making its way to soon become the global digital reserve asset. In a recent statement, he mentioned that for blue-chip cryptocurrencies like Bitcoin to shine, cryptocurrencies like Dogecoin have to go down. As per McGlone’s reason for Bitcoin hitting the $100,000 mark – he remarks that Bitcoin is still in the price discovery stage. And as a nascent technology, it is gaining adoption enormously. However, he believes that by the end of the year, Bitcoin would get to 100,000 in contrast to the present times where ‘all risk assets are under pressure, the Fed is tightening, and there is an ongoing war in Europe.’ Last year as well, the Bloomberg Analyst predicted that Bitcoin might touch $100,000. Many users of the crypto space shared the same sentiment. At the time of writing, Bitcoin’s price was $39,039.
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