Bloomberg Chief Commodities Strategist Mike McGlone considersthat in the fourth quarter of this year, a unique phase of bitcoin growth may occur, reports RBC Crypto.
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
According to McGlone, the growth of the US national debt, as well as fears of a potential default, will provoke a significant rise in the price of the first cryptocurrency. The Bloomberg strategist explained that markets are gaining confidence in Bitcoin as the cryptocurrency has a limited supply of 21 million coins.
In mid-September, McGlone confirmed his forecast that by the end of this year, bitcoin will rise in price to $ 100 thousand. The Bloomberg strategist is confident that the first cryptocurrency will be able to double its value in the coming months thanks to the trend for the introduction of digital assets.
Bitcoin’s reaching $ 100 thousand was predicted by TradingView analyst and trader Dmitry Lavrov. In his opinion, now nothing prevents the first cryptocurrency from reaching $ 100 thousand, since the coin has already overcome the key resistance.
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