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Mike McGlone: Bitcoin will rise to $100,000 in the future

Friday, 11 March 2022

Bitcoin Volatility Declines: Bloomberg Analyst Predicts Imminent Growth

Bitcoin, the world's first and largest cryptocurrency, has recently experienced a decline in volatility, which some experts believe is a precursor to an imminent growth spurt. Senior commodities analyst Mike McGlone of Bloomberg Intelligence has opined that Bitcoin is laying the groundwork for a quick surge that will "send it to the moon." In this article, we will take a closer look at the reasoning behind this prediction and the current state of the cryptocurrency market.

"This is important because Bitcoin's volatility has previously been three to four times higher than the volatility of the NASDAQ index,"
stated McGlone

Bitcoin's Future Growth Predicted by Bloomberg Analyst

Mike McGlone, the chief commodities analyst at Bloomberg Intelligence, recently spoke with crypto blogger Scott Melker on Wolf of Wall Street, where he shared his prediction that Bitcoin will rise to $100,000 in the future. McGlone believes that the decline in BTC volatility, which has previously been three to four times higher than the volatility of the NASDAQ index, is a significant factor in this predicted rise. He noted that the situation in traditional markets indicates a decrease in BTC volatility, which is a positive sign for the cryptocurrency's future growth.

McGlone also pointed out that in 2021, the price of Bitcoin fell by 15%, while the NASDAQ index fell by 17%. This indicates that the amplitude of the dynamics of Bitcoin previously exceeded the stock index as an indicator of traditional markets. However, with the recent decline in BTC volatility, it is possible that Bitcoin is now becoming more stable and could experience significant growth in the future.

Industry Experts Weigh In on Bitcoin's Potential Growth

McGlone is not the only expert who predicts growth for Bitcoin. Real Vision CEO Raoul Pal also believes that the cryptocurrency is ready for growth, especially in the face of foreign political tensions in the world. According to him, the change in the value of Bitcoin against this backdrop indicates that the cryptocurrency is primed for growth.

Katie Stockton, founder and partner at Fairlead Strategies, agrees with this prediction. She notes that technical analysis suggests that Bitcoin should continue to rise in price in the short term. However, Michael van de Poppe, a well-known cryptocurrency analyst and trader, has a different opinion. He believes that Bitcoin and Ethereum will fall to record lows, up to $30,000 and $2,000 respectively, against the backdrop of geopolitical tensions in Eastern Europe.

Opportunities for Optimistic Cryptocurrency Investors

Despite these differing opinions, one thing is clear: the current downturn in the cryptocurrency market presents an opportunity for those who remain optimistic about the future of Bitcoin and other cryptocurrencies. While some experts predict a decline in price, others believe that Bitcoin is poised for significant growth. As with any investment, it is important to carefully consider the risks and potential rewards before making any decisions.

Conclusion

The decline in Bitcoin volatility has some experts predicting significant growth for the cryptocurrency in the future. Bloomberg Intelligence analyst Mike McGlone believes that Bitcoin is now more stable and could rise to $100,000 in the future. Other industry experts, such as Raoul Pal and Katie Stockton, also predict growth for Bitcoin. However, Michael van de Poppe has a different opinion, predicting a decline in price for both Bitcoin and Ethereum. Regardless of these differing opinions, the current market downturn presents opportunities for those who remain optimistic about the future of cryptocurrencies.