“With bitcoin and ether approaching parity, Bitcoin and Ether are set to enter the $100 million market capitalization club by 2022,” says Bloomberg Intelligence’s Tom Davis. “This would see two of the top five cryptocurrencies surpassing a value of more than $5 billion.”
The “ethereum $100,000” is a prediction made by Bloomberg Intelligence. They believe that Bitcoin and Ether will be worth $100,000 each in 2022.
Despite cryptocurrency markets plummeting to multi-month lows, a Bloomberg analyst predicts that major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) will make new all-time highs in 2022.
According to Bloomberg Intelligence analyst Mike McGlone’s newest market study released on Thursday, BTC and ETH will reach $100,000 and $5,000, respectively, this year.
“A fundamental concern we see is that, as it confronts the worst inflation in four decades, the Federal Reserve will be more tempted to hike interest rates if risk assets continue to rise,” McGlone said.
McGlone also predicted that BTC, Ether, and US-pegged stablecoins would continue to reign supreme in 2022, but some of the top 2021 victors, such as Binance Coin (BNB) and Solana (SOL), “may stop the trend of transitory guests among the top five.”
Expectations for Fed rate rises in 2022, according to the analyst, might promote a “win-win situation” for Bitcoin over the stock market, with BTC likely obtaining a “edge” over equities this year.
“Crypto assets are the most speculative and hazardous,” McGlone said, “but the first born is swiftly migrating toward becoming the world’s digital reserve asset.”
McGlone’s earlier estimates were identical to the current Bloomberg Intelligence research. Early in December 2021, the expert anticipated that BTC and gold will reach $100,000 and $2,000, respectively, in 2022. In October 2021, he correctly forecasted the approval of the first BTC exchange-traded fund in the United States.
McGlone isn’t the only one who believes BTC may surpass $100,000. In a recent letter to investors, Goldman Sachs co-head of global FX and EM strategy Zach Pandl predicted that Bitcoin may exceed 50 percent of the store of value market share in the next five years, with the price of BTC possibly skyrocketing above $100,000 as a result of the market share of gold.
Related: Despite missing the goal in 2021, Brock Pierce and Tom Lee predict $200K BTC in 2022.
According to CoinGecko statistics, BTC is trading at $41,873 at the time of writing, down about 11% in the last seven days. BTC began to fall after the Fed’s December FOMC meeting on Wednesday revealed that the regulator was committed to raising interest rates in 2022, as Cointelegraph reported. The market has also shrunk as a result of internet outages in Kazakhstan, which have been accompanied by anti-government rallies.
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The “bloomberg bitcoin prediction” is a prediction that Bitcoin and Ether will be worth $100K and $5K in 2022. Bloomberg Intelligence released the report on November 20, 2018.
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