{"id":978,"date":"2022-08-09T11:38:00","date_gmt":"2022-08-09T11:38:00","guid":{"rendered":"https:\/\/cryptoteambuild.com\/blog\/bitcoin-btc-price-still-in-course-to-hit-100k-says-bloomberg-strategist-mike-mcglone\/"},"modified":"2022-08-09T11:38:00","modified_gmt":"2022-08-09T11:38:00","slug":"bitcoin-btc-price-still-in-course-to-hit-100k-says-bloomberg-strategist-mike-mcglone","status":"publish","type":"post","link":"https:\/\/cryptoteambuild.com\/blog\/bitcoin-btc-price-still-in-course-to-hit-100k-says-bloomberg-strategist-mike-mcglone\/","title":{"rendered":"Bitcoin (BTC) Price Still in Course To Hit $100k Says Bloomberg Strategist, Mike McGlone"},"content":{"rendered":"
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Mike McGlone, the senior commodity strategist at bloomberg<\/a>\"<\/span> <\/a> bloomberg<\/span> <\/span> <\/span> Media<\/span><\/span>Conglomerate company<\/span><\/span> <\/a><\/span> <\/a><\/span> <\/a><\/span> <\/a><\/span> <\/span> <\/span> Followers : <\/span> 0<\/span> <\/span> View profile <\/i><\/span><\/a> <\/span> <\/span> <\/span> <\/span> <\/span> <\/span> <\/span> , believes that Bitcoin, the most popular cryptocurrency, is still on course to reach $100,000. In the second half of 2022, oil prices will continue to fall.<\/p>\n

The U.S. Federal Reserve is likely to stop raising interest rates as a result of declining petroleum prices, which will likely indicate worldwide deflationary trends. Inflation expectations have fallen in the United States across all time horizons, according to a recent survey by the Federal Reserve Bank of New York.<\/p>\n

Such macroeconomic factors could increase gold prices. McGlone projected that the price of the yellow metal would rise again up to $2,000. The commodity strategist is also certain that will begin to behave like a high-beta counterpart of both gold and Treasury bonds.<\/p>\n

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A Matter of Time? $2,000 #Gold<\/a>, $100,000 #Bitcoin<\/a>, $50 #CrudeOil<\/a> –
The energy spike is proving its own worst enemy, with macroeconomic implications that may buoy gold and help Bitcoin transition toward a high-beta version of the metal and Treasury bonds. pic.twitter.com\/4RO3wkMYxf<\/a><\/p>\n

— Mike McGlone (@mikemcglone11) August 8, 2022<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

McGlone frequently said that by the end of 2021, Bitcoin may hit $100,000<\/a>. But his prediction went horribly wrong; in June, the value of the biggest cryptocurrency fell to just $17,600. <\/p>\n

However, the analyst is still sticking with his incredibly positive estimate. The unexpectedly positive jobs data that stunned markets last week has probably given the U.S. The federal reserve<\/a>\"<\/span> <\/a> federal reserve<\/span> <\/span> <\/span> Multinational Investment Bank<\/span><\/span> <\/a><\/span> <\/a><\/span> <\/a><\/span> <\/a><\/span> <\/span> <\/span> Followers : <\/span> 0<\/span> <\/span> View profile <\/i><\/span><\/a> <\/span> <\/span> <\/span> <\/span> <\/span> <\/span> <\/span> has more confidence to drop rates more aggressively.<\/p>\n

Bitcoin Price <\/strong><\/h2>\n

The price of Bitcoin has been rising in order to retest the $24,000 overhead resistance. The overhead resistance held off the bulls in the prior two attempts. Due to a nearly 2% increase over the previous 24 hours, the market cap of all cryptocurrencies today exceeded the $1 trillion mark.<\/p>\n

Ethereum, the second-largest cryptocurrency, increased by about 4% to $1,769. XRP, Solana, BNB, Litecoin, Chainlink, Tether, Polkadot, Tron, Avalanche, Stellar, Apecoin, Uniswap, and Polygon prices were all trading with gains over the last 24 hours.<\/p>\n<\/div>\n

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Mike McGlone, the senior commodity strategist at bloomberg bloomberg MediaConglomerate company Followers : 0 View profile , believes that Bitcoin, the most popular cryptocurrency, is still on course to reach $100,000. In the second half of 2022, oil prices will continue to fall. The U.S. Federal Reserve is likely to stop raising interest rates as a result of declining petroleum prices, which will likely indicate worldwide deflationary trends. Inflation expectations have fallen in the United States across all time horizons, according to a recent survey by the Federal Reserve Bank of New York. Such macroeconomic factors could increase gold prices. […]<\/p>\n","protected":false},"author":1,"featured_media":979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[18,74],"_links":{"self":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/978"}],"collection":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/comments?post=978"}],"version-history":[{"count":0,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media\/979"}],"wp:attachment":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media?parent=978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/categories?post=978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/tags?post=978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}