Bitcoin, which has recently risen in price to the level of 56-57 thousand US dollars, may significantly add in the remaining three months until the end of the year. This opinion was expressed by senior strategist at Bloomberg Mike McGlone (Mike McGlone). He attributes this to the growing tensions regarding the US national debt and the subsequent potential default.
Relative to rising US debt and tensions over a potential default, #Bitcoin may be entering a unique phase for a 4Q price rise as markets gain trust in the coding that defines the crypto’s supply. The debt-ceiling drama may work against managers that avoid allocations to Bitcoin. pic.twitter.com/Owgb0wfcSF
— Mike McGlone (@mikemcglone11) October 11, 2021
With rising US debt and tensions over a potential default, #Bitcoin could enter a unique upside phase in Q4 as markets gain confidence in the encoding that determines the supply of cryptocurrency. A debt ceiling drama may work against managers who avoid Bitcoin investments.
Mike McGlone
This is not the first analyst to speak out in support of Bitcoin and predict the rise in the value of the world’s main cryptocurrency. Different forecasts sound different data, but many agree that after reaching the May peak of 65 thousand dollars, the cryptocurrency may rise in price to the level of 100 thousand dollars, and will do this either by the end of this year or early next year.
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