Bloomberg: Bitcoin Could Reach $100,000 If It Follows ETH

Bloomberg’s chief commodity strategist Mike McGlone, a crypto-currency Bitcoin is no longer speculative, but the fact that the return on the assets applicable to a reserve on Twitter  for sharing.

McGlone, the second largest crypto-currency Bitcoin I Etherea ‘he claimed would follow if u could reach $ 100,000.

Critical weekend for Bitcoin

Mike McGlone cites the Bitcoin 2021 conference that took place over the weekend in Miami as a very important event for Bitcoin and the community.

McGlone described the event as “Woodstock-like”, referring to the massive music festival that took place August 15-18, 1969, attracting over 400,000 visitors. This festival was an important event for rock-n-roll and hippie culture in the western world.

The event that the expert tweeted supported Bitcoin mainstream adoption. It also confirmed Bloomberg’s view that BTC is no longer speculative but a global reserve asset.

“Ethereum can help Bitcoin reach $100,000”

The charts shared by McGlone show factors that could help Bitcoin reach the $100,000 price in the near future.

The first is a classic – above all the growing supply of fiat currencies and the shrinking Bitcoin supply against the USD supply. Recently, the US Congress approved a $900 billion stimulus package in late December.In early March, a $9 trillion package was also adopted to stimulate the economy.The factor mentioned in the second chart is that Bitcoin could reach $100,000 if it follows the growth pattern of Ethereum.

In the last twelve months, Bitcoin has risen 4x while the second-largest crypto has risen by over 1,000 percent. Ethereum ‘s market cap is currently $291,283,646,840 – that’s roughly half the market cap of Bitcoin.Recent reports in McGlone, Ethereum Bitcoin with a market value basis due to more powerful use cases and  could be passed , he said.

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