Bitcoin Will Reach $100,000 When the Bear Market Ends, according to analyst
By 2025, Bloomberg Intelligence’s senior commodities analyst Mike McGlone expects the cryptocurrency sector to thrive as a “revived bull market,” predicting that Bitcoin would reach $100,000.
Credible Crypto, a well-known cryptocurrency trader, agrees with McGlone’s bold prognosis. As recently as late last month, Credible Crypto issued a new prediction on the path of Bitcoin’s price.
McGlone believes that Bitcoin’s turnaround is just beginning. Over the previous four decades, inflation has been at its highest rate ever seen in the present bear market.
Bitcoin’s Outperformance Trajectory Has Been Reclaimed
Yet he said that once the bear market ended, Bitcoin will soar and become the most valuable asset on the planet. He was correct. McGlone expects Bitcoin will be the first asset to return to its previous outperformance trend.
As more and more people express concern about a major BTC/USD decrease, positive views are restricted to the long term due to macroeconomic issues. Cryptocurrency has had a rocky start to the year, but experts are confident in its eventual rise to $100,000.
There are still many market experts who believe that Bitcoin will shortly reach $100,000 despite recent price falls, however they have different views on when this will happen.
According to a study conducted by Deutsche Bank, Bitcoin is on track to reach $100,000 in value soon.
A recent Deutsche Bank research found that 25 percent of BTC investors expect the crypto currency’s price to reach $100,000 in the next five years.
McGlone also looked at the recent change in public attitude towards the world’s most popular cryptocurrency, Bitcoin. After acting as a safe inflation buffer for so long, he was asked why it had suddenly become a riskier asset.
In response to the question, a Bloomberg analyst said that the current upswing is just the “ripening” of new technology and asset. Its 260-day volatility is equivalent to that of Tesla, Amazon and gold in 1980 according to this author.