In October’s Bloomberg Crypto Outlook, Bloomberg Commodity Analyst Mike McGlone predicted that Bitcoin will be accepted more and more, although the pace of development will not be very fast. But even so, based on the “historical growth data and demand and application measures”, he predicts that the price of Bitcoin will reach $100,000 by 2025.
He wrote, “Bitcoin is still in the aftermath of the 2017 rebound. We don’t know what factors will push the price of Bitcoin to new highs, but demand and supply indicators are still positively correlated with prices.”
He believes that if Bitcoin can reproduce the glory of 2017, this cryptocurrency will become more mature, and by 2025, the price of Bitcoin may reach $100,000.
According to a previous report by “Beijing”, Bloomberg has been optimistic about Bitcoin since the Bitcoin block reward halving in May this year.
Bloomberg believes that 2020 is a crucial year for Bitcoin’s transition to digital gold. The economic stimulus and quantitative easing policies carried out by various countries in response to the new crown epidemic will promote the rise of Bitcoin prices. In addition, the number of active addresses and fundamentals of the Bitcoin network are also bullish. Current technical indicators indicate that the price of Bitcoin will rise to $15,000. .
McGlone also previously stated that the stable price of Bitcoin will be six times the price of gold per ounce.
Author Xiu Mu
