Commodity analyst at Bloomberg, Mike McGlone, does not held back in predicting a very bright near future for the entire crypto economy while giving Bitcoin the highest value of Bitcoin as US$ 100,000 and US$ 5,000 for the ETH coin.
Bloomber was able to publish its “Crypto Outlook” for the month of September on 10th September, 2021. Within this publication, there was crypto market prediction made by Bloomberg’s most acclaimed commodity analyst namely Mike McGlone.
McGlone suggests that a bright future for the entire crypto economy is very near. He is of the view that crypto market bull is refreshed and is going to fuel the crypto economy massively. He commented firstly that not too distant future, Ethereum is going to be valued above US$ 5,000. While with regard to Bitcoin, McGlone, does not held back by predicting an extra-promising future for Bitcoin. According to him, Bitcoin will soon be able to achieve its initial dream value of US$ 100,000.
He then moved on towards giving explanation to his predictions in order to prove that they could become reality for several reasons. The first reason he explained was that Ethereum’s value is increasing because the supply is diminished. He further explains that the future of Ethereum is better than Bitcoin as well because it is a primary source of the thing known as NFTs. Since NFTs are on the horizon, therefore, there is huge rewards for Ethereum in the near future.
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McGlone then moved on to his prediction with regard to Bitcoin. He was quite sure that there is no doubt that Bitcoin will achieve that initial milestone of US$ 100,000. This is because none of the cryptocurrencies got the chance to face the most difficult challenges as have been faced by Bitcoin. These challenges have made Bitcoin one of the strongest cryptocurrencies of the world which will continue to sway the global crypto economy. He thinks that Bitcoin is more than mature now and has been showing great skills to defeat the peculiarities.
He further emphasized that the massive correction period within the crypto economy has ended now. There is high probability that the upward trajectory will come into play again soon.
Everybody, especially the Bitcoiners, are hoping that McGlone’s prediction would come true. They want to see Bitcoin moving onto the desired value before the end of 2021. However, it seems difficult for the time being that the prediction would come true before 2021’s end. But nobody can predict the exact future of crypto and its outcome. One day a Bitcoin is sold @ US$ 50,000 and the other day the value is US$ 30,000. This is the way it is and the whole world is aware that cryptocurrencies have huge volatility. It could be good or bad and this is why most people call it the “gambling”.