Bitcoin Poised to Reach $100,000: Bloomberg Analyst

• Mike McGlone, Bloomberg Intelligence Senior Macro Strategist believes that Bitcoin is setting up for an impressive price run in the coming year.
• He based his assumptions on the forthcoming Halving event toward the second quarter of 2024 and noted that Bitcoin currently has enough fundamental backing to chart its growth curve.
• Many investors are wondering if Bitcoin will soar towards the $100,000 mark, but no one can tell for certain what the price will be and at what time.

Bloomberg Analyst Predicts Impressive Price Run For Bitcoin

Bloomberg Intelligence’s senior strategist Mike McGlone believes that the set-up for Bitcoin to soar is forming already. Despite gloomy sentiments in the cryptocurrency ecosystem right now, he asserts that BTC has all it takes to push its price towards a $100,000 mark with upcoming halving event in 2024 providing further impetus.

Bitcoin Fundamentals Supporting Growth?

McGlone spoke to Scott Melker about this matter and believes that bitcoin has enough fundamentals backing it to chart its growth curve. “The key thing is what stops that trajectory? In the big picture trying to play for these $10,000 moves, I guess well that’s a big amount of Bitcoin now, can make you lose your hair” he said adding; “The bottom line is astute investors, institutions on the planet all realize every day that goes by is they need part of this asset.“

Bogus Price Projection Post-Halving

With market capitalization being world’s highest amongst digital currencies, investors are eager to know whether or not BTC will reach a hundred thousand dollars as predicted by many analysts post-halving. The question remains unanswered as no one can predict accurately whether or not it will happen and when exactly it will take place.

Current Price Performance

At present, bitcoin (BTC) is trading at $26,740 with 4% reduction over past 24 hours. This month might end on a negative note if current loss gets deepened further.

Conclusion

Although there are many speculations regarding future performance of bitcoin (BTC), only time will tell whether these predictions come true or not!