Investment Strategist Discusses Bitcoin ‘Entering Unstoppable Maturation Stage’ — Says Price Should Continue to Rise – Markets and Prices Bitcoin News
Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” As well as, the cryptocurrency may “be entering unstoppable maturation stage,” the strategist added, anticipating the value of bitcoin to proceed to rise over time.
Bitcoin’s ‘Unstoppable Maturation Stage’
Bloomberg Intelligence’s senior commodity strategist Mike McGlone offered his outlook for bitcoin this week. Citing rising demand, elevated adoption, and regulation, he tweeted Wednesday:
Bitcoin could also be coming into an inexorable section of its migration into the mainstream, and at a comparatively discounted worth.
In one other tweet, he famous the declining provide of bitcoin, including: “Bitcoin’s definable diminishing supply is unprecedented on a global scale, and so prices should continue to rise over time unless something unlikely reverses demand and adoption trends, given the laws of supply and demand.”
He additionally tweeted:
Bitcoin could also be coming into unstoppable maturation stage.
The strategist elaborated: “The fact that Bitcoin didn’t exist in October 2007, when WTI crude oil rose to its current $84 a barrel for the first time, may indicate the appreciation advantage of the nascent technology.”
“In a world rapidly going digital, the benchmark crypto is gaining value as a unique alternative asset and global collateral that’s no one’s liability or responsibility,” McGlone continued.
“It makes sense for one of the best-performing assets of the past decade to drop with the most aggressive Federal Reserve tightening in about 40 years, but rising demand and adoption, declining supply and a steep relative price discount point to risk/reward leaning favorably,” the Bloomberg Intelligence strategist opined, concluding:
Returning to its propensity to outperform most belongings could also be a matter of time, as mainstream adoption progresses and adaptive adjustments in U.S. accounting requirements give it a elevate.
Do you agree with Mike McGlone? Tell us within the feedback part under.
Kevin Helms
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