Bloomberg Analyst: 2022 will be the year of bitcoin and gold success
Mike McGlone, a senior analyst at Bloomberg, has said that 2022 will be the year of bitcoin and gold success, and that the price of bitcoin will reach $ 100,000 this year.
To Report Crypto Potito McGlone expects 2022 to be a successful year for bitcoin and gold. He said that the price of bitcoin will reach $ 100,000 next year and gold will be traded at $ 2,000.
The global financial system is currently going through a difficult period. The outbreak of the coronavirus and health concerns about it has led many companies to temporarily shut down or ask their employees to work from home. This quickly disrupted and reduced the productivity of businesses, and eventually created problems with monetary policy.
Meanwhile, a number of central banks began large-scale money printing to alleviate some of the short-term problems, but this has raised inflation to unprecedented levels in recent decades. In the United States, inflation has reached 6.8 percent, the highest level in 40 years.
While national currencies such as the US dollar are slowly losing purchasing power, bitcoin is considered by many to be the exact opposite. Bitcoin is currently an anti-inflation asset. The constant supply of 21 million units of bitcoin has made this asset a safe haven, making it an attractive investment tool that many people turn to during the current financial turmoil.
However, McGellon predicts that inflation-related activities will bear fruit next year and that the spread of inflation around the world will stop. This process could help Bitcoin reach a milestone on its way to $ 100,000. According to McGellon, these same factors cause gold to reach $ 2,000 and oil to $ 50.
In another recent statement, Bloomberg said that many investors are now protecting themselves against inflation by investing in the Bitcoin market. The company even referred to bitcoin as “the best tool to curb inflation.”
Well-known letters such as Anthony Scaramucci, Paul Tudor Jones and Barry Sternlicht have argued that bitcoin could be such an alternative. Jordan Peterson, a clinical psychologist and one of the most famous personalities on YouTube, recently joined the Bitcoin Supporters Club.
Peterson said he had bought more bitcoins after an educational interview with Dr. Saifedean Ammous, who said that bitcoin was essentially the most powerful defense technology against inflation.
Bloomberg’s John Authers also said that bitcoin inflation has been negative 99.996 percent in the last 10 years; This means that the price of Bitcoin in 2011 is equal to 0.004 of its current value.