Bloomberg Intelligence senior commodity strategist Mike McGlone forecasts that Bitcoin will reach $100,000 by 2025 and that the cryptocurrency business will thrive as a “revived bull market.”
Credible Crypto, a popular trader, agrees with McGlone’s bold prediction. Credible Crypto provided an updated projection for Bitcoin’s price trajectory last month, pointing to BTC achieving favorable levels.
According to McGlone, Bitcoin’s powerful reversal is only getting started. The current bear market reflects the most severe inflation in four decades.
He stated that after the bear market ends, Bitcoin would explode and become the world’s most valuable asset. “I anticipate that Bitcoin will be the first asset to restart its outperformance trajectory,” McGlone said.
While an increasing number of speakers warn of a big BTC/USD collapse, bullish perspectives are confined to the long term due to macroeconomic considerations.
Despite a rocky start to the year, analysts predict Bitcoin will hit $100,000; it’s a matter of when, not if, they say.
Despite recent price dips, many market observers remain optimistic that the cryptocurrency will eventually surpass the $100,000 level, but they have varied opinions on when this would happen.
According to a recent study by Deutsche Bank, around 25% of Bitcoin investors believe the cryptocurrency’s price would exceed $100,000 in five years.
McGlone also assessed the recent shift in public perception of the world’s largest cryptocurrency. He was asked why it had become a riskier asset after serving as a secure inflation hedge for so long.
According to the Bloomberg expert, this uptick is simply the “ripening” of a young technology and asset.
He compares Bitcoin’s 260-day volatility to that of Tesla, Amazon in 2009, and gold in 1980.