The crypto market seems to be exploding, and prices are going up as we speak. At the moment of writing this article, NBTC is trading in the green, and the king coin is priced at $24,129.
The optimistic predicitons about the price of BTC keep pouring, and below, you can see the latest one from Bloomberg strategist.
New Bitcoin $100k prediction is out
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, is predicting that Bitcoin (BTC) is headed to $100k.
McGlone says that the oil prices will persist on a downward trend throughout the second half of 2022 towards a price of $50 a barrel. In his mind, this will trigger deflationary trends worldwide.
The deflationary impact will consequently send the price of gold rising to $2,000 an ounce and also boost the price of Bitcoin to $100,000, according to the Bloomberg Intelligence strategist.
“A Matter of Time? $2,000 Gold, $100,000 Bitcoin, $50 Crude Oil –”
He continued and said this:
“The energy spike is proving its own worst enemy, with macroeconomic implications that may buoy gold and help Bitcoin transition toward a high-beta version of the metal and Treasury bonds.”
BTC prediciton cam back in March
This is not the first time that McGlone is predicting that Bitcoin will reach $100k.
Back in March, when the ing coin was trading at over $40,000, the Bloomberg Intelligence strategist predicted that Bitcoin would first undergo a correction before surging to $100,000.
“But Bitcoin is the gold in the space. And it’s still speculative. I just really think it needs to be shaken out a little bit and then go back up as a whole market.”
The optimistic crypto prediciotns keep coming despite the fact that we have massive market volatility.
Not too long ago, we also revealed that according to the latest reports, the popular on-chain analyst Will Clemente says Bitcoin (BTC) buy orders on crypto exchange Coinbase are reminiscent of BTC’s bottom in March 2020.