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Bloomberg Strategist: This Is What Will Boost Bitcoin And Ethereum’s Prices

It’s been revealed that an important strategist from Bloomberg talked about what will boost the prices of Bitcoin and Ethereum. At the moment of writing this article, the crypto market looks pretty bloody and most of the digital assets are trading in the red.

Bitcoin and Ethereum price predicitons

An analyst from Bloomberg is addressing the prices of Bitcoin and Ethereum. Here’s what he has to say about the most important coins in the crypto market.

Bloomberg Intelligence’s senior commodity strategist Mike McGlone seems to be bullish on the top two largest coins by market cap.

McGlone says in a new interview that the declining supply of Bitcoin (BTC) and Ethereum (ETH) amidst the growing adoption will lead to price appreciation for the digital assets.

“In the top two, Bitcoin and Ethereum, there’s definable diminishing supply, by code. Now Ethereum is less by code but Bitcoin, clearly definable diminishing supply.”

He continued and said this:

“And you look over demand and adoption, they are clearly increasing. So it’s simple rules of Adam Smith and economics that prices have to go up over time unless something shifts that trajectory negative.”

He also said the following:

“And I only see increasing adoption and demand increasing. And it’s still way early days. I mean less than 1% of global, way less than 1% of global equities, are in crypto.”

An important advanatage that Bitcoin and Ethereum have

McGlone also stated the fact that one advantage that crypto assets such as Bitcoin and Ethereum have over traditional commodities is that they don’t incur storage space costs.

“Now Bitcoin and Ethereum, you can actually easily buy the assets as commodity, put it on your phone in storage and never have to pay for that storage.”

He also said that in commodities, people have to pay in average 5%, maybe 10% storage.

There are kinds of optimistcic predicitons about the prices of digtial assets amidst the the massive market volatility.

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