Bloomberg Smart Strategist Discusses Bitcoin ‘Entering Unstoppable Maturity’ – Expect Price to Continue Rising Over Time.
Bloomberg Intelligence senior commodity strategist said bitcoin “may be entering an irreversible phase of its move into the mainstream.” Alternatively, the cryptocurrency may also be “entering an unstoppable stage of maturity,” added the strategist, expecting the bitcoin price to continue to rise over time.
Bitcoin’s ‘Unstoppable Maturity’
Bloomberg Intelligence senior commodity strategist Mike McGlone gave his outlook on bitcoin this week. Citing increased demand, increased adoption and regulation, he tweeted Wednesday:
Bitcoin may be entering an irreversible phase of its move into the mainstream and at a relatively discounted price.
In another tweet, he noted the declining supply of bitcoin, adding: “Bitcoin’s definable diminishing supply is unprecedented on a global scale and so the price will continue to rise over time. time unless something improbable reverses demand and adoption, based on the law of supply and demand.”
He also tweeted:
Bitcoin may be entering an unstoppable stage of maturity.
The strategist further explained: “The fact that Bitcoin did not exist in October 2007, when WTI crude first rose to the current $84 per barrel, may indicate an appreciation advantage. of primitive technology”.
McGlone continued: “In a rapidly evolving digital world, the standard cryptocurrency is gaining value as a single alternative asset and global collateral without liability or whose responsibility,” continued McGlone.
“It makes sense for one of the best-performing assets of the past decade to drop as the Federal Reserve tightens its most in about 40 years, but demand and adoption rise, supply falls and relatively high price discount points lead to a favorable reduction in risk/reward,” said Bloomberg Intelligence strategist, concluding:
A return to the trend of outperforming most assets may only be a matter of time, as mainstream adoption is progressing and adaptive changes in US accounting standards will help it grows.
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