Cryptocurrency

Mike McGlone: ​​”Bitcoin and Ethereum are building the future”

Bloomberg Chief Commodity Strategist Mike McGlone has stated several times before that he expects Bitcoin to reach $100,000. Now the famous analyst, Bitcoin and how Ethereum is building the future of the world in the fintech space.

McGlone, Bloomberg’s chief commodities expert, shared a chart showing data on Bitcoin against the increasing global dollar supply.

The famous analyst, who named the chart he shared as “currency race against Bitcoin supply”, underlined that while the GDP percentage curve of the rapidly increasing Central Bank balance sheet grew at the light speed, the annual percentage change curve of Bitcoin supply decreased.

The Bitcoin liquidity index continues to trade sideways after a recent high.

The other chart shared by the analyst currently suggests that Bitcoin has reached the lowest levels last seen during the crypto winter 2018 in 2018 and Black Thursday in 2020.

Explaining the price claim on Bitcoin again, McGlone stated that in the second half of 2021, the president stated that the crypto money will reach the level of $ 100,000. The analyst stated that crude oil is also ready to make real moves to $50 per barrel in a one-to-one period.

Mike McGlone also pointed out that Ethereum is building the fintech infrastructure again, while he argued that Bitcoin will replace gold.

With the prestige of the moment, the market value of ETH is about $ 250 billion, while Bitcoin is $ 634 billion. Ethereum’s market cap is 43rd in the midst of global companies and assets, while Bitcoin is in 12th place. According to this list, Ethereum is now Netflix, Coca Cola, Pepsico, Intel (NASDAQ: INTC), Pfizer etc. greater than .

This article was originally published on Cryptophony

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