Mike McGlone: ​​Bitcoin will reach $100,000 in three years

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A senior commodities analyst at Bloomberg Research said Bitcoin adoption and demand are growing.

Mike McGlone is convinced: every market signal indicates that the value of Bitcoin is growing. The expert compared the current fall in cryptocurrency prices with the fall of the NASDAQ index in 2002 and subsequent stable growth over a long period of time. The analyst argues that Bitcoin will benefit from a “new chapter of the economy” in which speculation is driven by more than just how much money the Federal Reserve (Fed) prints.

"The days when there could benon-viable companies are gone. Now, if a business doesn't work, it goes under. And this is good, because now that the market has cleared after a wave of bankruptcies, it is open to solid business,” said Mike McGlone.

CEO of the Kraken exchange JesseJesse Powell has a similar opinion. In August, he said he remained bullish on Bitcoin. The head of Kraken still hopes to buy a luxury Bugatti car for 1 BTC. 

Bank of America announced in April that the fallThe stock market may push Bitcoin to the $100 000 level. Bank analysts believe that against the backdrop of macroeconomic events, Bitcoin is becoming a tool for protecting assets. According to the results of a survey conducted by Paxos among regular buyers of physical gold, almost a third of respondents consider Bitcoin as the best alternative to the precious metal.. 

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