Bloomberg’s senior commodity strategist Mike McGlone believes that massive adoption of cryptocurrencies will begin in the United States as early as 2022, with the necessary regulation and subsequent market growth.
As Mike McGlone emphasized, the cryptocurrency market has shown significant growth this year. This is due, to a large extent, to the soft monetary policy of developed countries, the authorities of which were trying to mitigate the economic crisis amid the coronavirus pandemic. This led to a strong increase in the money supply, as well as an increase in demand for securities and other alternative assets.
An analyst at Bloomberg believes that the US Federal Reserve will roll back its stimulus program next year. This is indicated by a significant increase in inflation and a fairly large labor market. This should lead to a decline in the stock market, however defensive assets like Bitcoin will continue to rise.
“The Fed’s drive to stop giving away money and reduce bond yields creates a macroeconomic environment that will fuel the growth of major cryptocurrencies such as BTC and ETH. By the end of 2021, the cryptocurrency market is showing a divergence from the stock markets, and this may portend further growth in digital assets, “McGlone said.
Once again, the analyst confirmed his forecast that the bitcoin rate tends to $ 100,000. In his opinion, bitcoin is increasingly strengthening as a means of storing wealth. Earlier, McGlone said that the BTC rate could reach $ 100,000 by October of this year, however, as time has shown, the analyst’s expectations were not met.
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