Analysts Predicts Massive Bull Market For Bitcoin Provided US Design Appropriate Regulation
Bloomberg Intelligence analyst, Mike McGlone, recently offered his view on bitcoin. In his words, he predicts, “By 2022, we expect the United States to adopt cryptocurrencies, with appropriate regulation and associated bullish price implications,” he explained. He said Bitcoin is rushing towards $100,000″. The expert said that we are likely to witness “a halted, corrected, and rejuvenated bull market.”
Positive Bull Run for Bitcoin in 2022
Bloomberg Intelligence issued a paper last week predicting the state of cryptocurrency in 2022. The report was titled “Crypto Outlook for 2022”. The analysts pours out his mind, saying that Bitcoin adoption will impact the bullish runs of the digital asset next year in the United States. The adoption will force the United States to develop relevant regulations to control the industry, which is a good thing for all. Also, the correct standards and designed procedures will drive the prices of digital assets up.
In his words, he believes that the limitless supply of fiat must be attached to rising values for Ethereum and Bitcoin, which are both deflationary in nature and reserve. The analyst thinks that the marriage of fiat and crypto will gain global acceptance. Similarly, the ensuing monetary policy is likely to happen in 2022. This monetary policy will correct significant issues in the price chart for Bitcoin. An example of the likely changes is the 50% correction that occurred in 2021.
Further Diversification Into Digital Assets By Institutional Investors
The analyst predicts that investors will now look to diversify their portfolio in digital assets. Asset diversification will cause what he described as “normalization of stock market returns.” By 2022, the US Treasury bond yields will decline because investors are picking Bitcoin and Ethereum assets.
The critical question for bitcoin as we approach the start of 2022 is whether it is nearing a high or merely consolidating in a bull market. We think the latter and believe that the benchmark cryptocurrency is well on its way to becoming global digital collateral in a world moving in that direction. In 2022, he anticipates approximately critical support between $50,000 and $100,000.”
Bitcoin Hitting $100,000
Bitcoin appears to be on a collision course with $100,000. We envision bitcoin nearing 2022 as a halted, corrected, and rejuvenated bull market. Natixis Investment Managers conducted a study, where they predict a massive decrease in the Cryptocurrency market next year. Even though institutional investors continue to view crypto as the leading candidate for a catastrophic correction, the asset class is gaining traction.
While bitcoin values have gotten to the $50K mark, the network’s hash rate rea
got to its peak (ATH) of 194.95 exam hashes per second by December 8, 2021. Bitcoin miners have significantly improved their processing power even though mining bitcoin has become 8.33 percent more difficult since December 11.
Concerning whether BTC will reach $100K, the analyst stated: “We believe it is more a matter of time, particularly given the economic fundamentals of increasing demand vs. declining supply.”
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.