Every cryptocurrency enthusiast carefully follows crypto prices and news. However, one in particular draws attention, bitcoin (BTC). If not everyone is happy with the current course, Mike McGlone thinks the trend could soon be reversed.
Bitcoin at 100,000 dollars, not McGlone budge!
Bitcoin (BTC) price predictions are going strong. In fact, many analysts have already speculated on the historic recovery of the main cryptocurrency. If so far the bitcoin continues to oscillate between green and red, Mike McGlone is still convinced that it will reach 100,000 dollars soon.
Commodity SEO Strategies at Bloomberg sticks to stand. According to him, the price of oil will continue to fall in the second half of 2022. As a result, the US Federal Reserve should lower interest rates. According to a survey by the Federal Reserve Bank of New York, inflation expectations are falling in the United States.
These various macroeconomic factors may lead to an increase in the price of gold. Therefore, according to s tweet by Mike McGlone, bitcoin could follow the trend of gold and see its price increase in the coming months.
BTC price drops
After being around $24,000, the price of bitcoin is falling again. Currently, the indicators are red and prices have fallen 2.41% in the last 24 hours. However, the recent rise in the price of BTC has pushed the market capitalization of all currencies to over $1 trillion. However, despite the recent fall, McGlone carry on believe in bitcoin recovery.
Recall that this is not the first time that the analyst gave his opinion on the course of the first crypto. In fact, it was previously predicted that BTC would trade at $100,000 by the end of 2021. However, nothing went as planned as it lost more than 50% of its value, falling to $17,600 in the month of June.
Despite failed forecasts and bitcoin’s current price, commodity analyst Mike McGlone sticks to his bullish estimate. In fact, market data is quite positive and the Federal Reserve is on track to cut rates. As a result, there is a strong possibility that he will be right this time.
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The world is changing and adaptation is the best weapon to survive in this turbulent world. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and express an area of interest to me, there is nothing better than writing articles that are informative and entertaining at the same time.