According to the Bloomberg analyst, Bitcoin could soon reach $100,000
Bloomberg analyst Mike McGlone predicts that the value of Bitcoin will continue to increase in the coming years.
Bitcoin surprised much of the financial world this year after a strong recovery from the market crash seen in March, when the pandemic impacted global markets.
McGlone believes Bitcoin will continue to grow stronger in the 2020s, forecasting it to reach the $100,000 mark by 2025. He also says the adoption will give Bitcoin the momentum it needs to reach new record highs, considering the many indications in that direction over the past two years. According to recent news, Egypt and sub-Saharan Africa have seen a growing adoption of Bitcoin as a means of securing savings for young people.
So if adoption is supposed to be on the rise, why are we seeing the rise of the DeFi and Ethereum projects making the headlines? Ethereum may overcome the higher cryptomoeda when ETH 2.0 is launched later this year and the adoption of the smart contract platform goes beyond Bitcoin.
The Bitcoin of $100,000 over the next five years would represent an ROI of about 10 times today’s prices – a truly respectable return for investors looking for a long-term investment.