BITCOIN AND ETHEREUM ARE IN THEIR EARLY STEPS, ACCORDS TO BLOOMBERG
A long trip to the moon? – For journalists who have passed the stage of systematically denigrating cryptocurrencies (without having really tried to understand them), the tone is rather optimistic for the future of the crypto sphere. This is the case of one of the main market analysts of the Bloomberg media, who consider that the 2 main crypto-assets on the market are still largely undervalued from a long-term perspective.
BITCOIN AND ETHEREUM STILL IN THEIR TAKE-OFF PHASE?
Within the major economic media Bloomberg, analyst Mike McGlone is a veteran and specialist in the commodities markets. He has a keen interest in Bitcoin (BTC) – which he expects to see hit $100,000 – and the crypto-asset market in general.
In a recent tweet, Mike McGlone once again expressed his thoughts regarding the great future that certain cryptocurrencies could have. Thus, for the journalist-analyst, the growing demand combined with the scarcity of bitcoins and ethers (ETH) would promise them sustained growth in their valuation.
“Bitcoin and Ethereum are still in the early stages of adoption, with increasing demand versus decreasing supply, and therefore implications for their value. Our bias is – why try to complicate things – so unless some unlikely event reverses the spread of this nascent technology, prices should rise over time. »
#Bitcoin and #Ethereum remain in early adoption days, with increasing demand vs. declining supply and related price implications. Our bias is why complicate it — unless something unlikely reverses the proliferation of the nascent technology, prices should rise over time. pic.twitter.com/SAgqWrfIMV— Mike McGlone (@mikemcglone11) January 29, 2022
Indeed, with emissions of new bitcoins and ether increasingly weak (even deflationary) and with a growing adoption of these blockchain networks so far, prices should mechanically rise, too. But that’s without counting on the desire for very framed regulation of cryptos, which is pushed around the world by governments and financial monitoring organizations, the United States in the lead.