Despite the sharp drop in the cryptocurrency market that happened on Tuesday, Bitcoin, Ethereum and other altcoins may still rise in price. And it is strong, and by the end of the year. This is the opinion of Bloomberg analyst Mike McGlone. According to his prediction, by the end of the year Bitcoin may rise in price to $ 100,000, and Ethereum to $ 5,000.
“We see Ethereum heading towards $ 5,000 and $ 100,000 for Bitcoin. [Инвестиционные] Portfolios of some combination of gold and bonds seem empty without Bitcoin and Ethereum. “
Mike McGlone
The analyst believes that after a significant summer correction, when Bitcoin almost halved, from $ 60,000 to $ 30,000, the world’s main cryptocurrency is more likely to resume its upward trajectory than fall below the lows of the second quarter. This will be facilitated by the growing demand for Bitcoin and the expansion of the audience of users and cryptocurrency holders.
“Our graph shows that the Bitcoin-Gold-Bond Index has outperformed the S&P 500 since late 2015, especially early 2020.”– said the analyst, pointing to the investment attractiveness of Bitcoin along with more conservative assets.
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