Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone predicts that <a href="https://www.cryptoknowmics.com/news/surge-in-trading-volume-of-bitcoin-and-altcoin-observed-tweets-cgtn-global/">Bitcoin's</a> price is expected to hit $100,000. According to him, Bitcoin won't trickle down below $30,000 this year despite the bearish pressure in the market. 

Mike McGlone also claims that Bitcoin is making its way to soon become the global digital reserve asset. In a recent statement, he mentioned that for blue-chip cryptocurrencies like Bitcoin to shine, cryptocurrencies like <a href="https://www.cryptoknowmics.com/news/doge-dice-how-to-gamble-with-dogecoin/">Dogecoin</a> have to go down. 

As per McGlone's reason for Bitcoin hitting the $100,000 mark - he remarks that Bitcoin is still in the price discovery stage. And as a nascent technology, it is gaining adoption enormously. However, he believes that by the end of the year, Bitcoin would get to 100,000 in contrast to the present times where 'all risk assets are under pressure, the Fed is tightening, and there is an ongoing war in Europe.'

Last year as well, the Bloomberg Analyst predicted that Bitcoin might touch $100,000. Many users of the crypto space shared the same sentiment. 

At the time of writing, Bitcoin's price was $39,039.

Bloomberg Strategist Predicts Bitcoin to Surge $100,000

The Bloomberg Intelligence analyst, Mike McGlone stated in an interview that he believes Bitcoin might surge the $100,000 mark.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Bloomberg Strategist Predicts Bitcoin to Surge $100,000

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