{"id":458038,"date":"2021-03-04T20:00:04","date_gmt":"2021-03-04T20:00:04","guid":{"rendered":"https:\/\/ktsl888.com\/?p=458038"},"modified":"2024-06-11T14:13:44","modified_gmt":"2024-06-11T14:13:44","slug":"bloomberg-chief-analyst-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bloomberg-chief-analyst-bitcoin\/","title":{"rendered":"Bloomberg Chief Analyst Says Bitcoin Could \u201cMarch To $100,000\u201d From Here"},"content":{"rendered":"

Bitcoin is currently struggling to reclaim $50,000<\/a>, but one chief Bloomberg analyst says that the cryptocurrency could be ready to “march” toward $100,000 per coin in the near term.<\/p>\n

Here’s the data the senior commodity strategist says backs up the theory for the “nascent” cryptocurrency’s price doubling in short order.<\/p>\n

Bitcoin Building Foundation At $50,000, According To Bloomberg Analyst<\/h2>\n

Bitcoin has only in the last several months become adopted by institutions<\/a> as a financial asset of interest, despite the cryptocurrency’s incredible historical ROI.<\/p>\n

During those months, however, the price per coin has increased by more than two times over compared the the asset’s entire lifetime before then. In a year’s time alone, Bitcoin has risen from $4,000 per coin to more than $50,000 from the technology’s potential suddenly coming into light.<\/p>\n

Related Reading | Coinbase Bitcoin Outflows Are The Strongest Bullish Signal \u201cEver\u201d<\/a><\/strong><\/em><\/p>\n

Using “history as a guide” Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone says<\/a> that the “nascent” technology is on track to begin its march toward a price of $100,000 per BTC \u2013 or more than double from the market price trading currently.<\/p>\n

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Grayscale #Bitcoin<\/a> Trust Discount May Signal March to $100,000 – Bitcoin's end of February price disparities on U.S. regulated exchanges portend a firming price foundation, if history is a guide, and are evidence of just how nascent the crypto is. pic.twitter.com\/qj6hfTvH8K<\/a><\/p>\n

— Mike McGlone (@mikemcglone11) March 4, 2021<\/a><\/p><\/blockquote>\n