[Delio] A Six-figure Bitcoin Price is Inevitable
Mike McGlone, a senior commodities analyst at Bloomberg Intelligence, claims that the price of Bitcoin (BTC) will eventually reach $100,000, crypto media channel The Daily Hodl reported on August 10.
According to McGlone, the price of oil will continue to decline into the second half of 2022, eventually reaching $50 a barrel, which can lead to worldwide deflationary tendencies. The result of the deflationary effect will be a rise in the price of gold to $2,000 per ounce and a rise in the price of Bitcoin to $100,000.
Notably, claiming Bitcoin as ‘the gold in the space’, McGlone has previously forecasted that Bitcoin will hit six figures in price. The Bloomberg Intelligence expert forecast in March, when the leading cryptocurrency asset was trading at over $40,000, that Bitcoin would first experience a fall before surging to $100,000.
At the moment of the article’s release, Bitcoin is currently trading at $23,982.
Source: THE DAILY HODL
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