Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Crypto Analyst Drops Facts On How Bitcoin Will Hit $100K

Published 07/10/2021, 05:01 AM
Updated 07/10/2021, 05:30 AM
© Reuters.  Crypto Analyst Drops Facts On How Bitcoin Will Hit $100K

  • Analyst — Mike McGlone, explains how Bitcoin will hit $100,000, eventually.
  • He states renewable energy for mining and Bitcoin halving as reasons for this possibility.
  • Also, he believes that Bitcoin’s supply is dwindling and the time for Bitcoin demand will rise.

Many Bitcoin price analysts believe that the price of Bitcoin will reach $100,000. One among them is Mike McGlone. He believes this is inevitable and explains why in a newsletter.

In particular, McGlone compares the performance of Ethereum by stating how the crypto has outperformed Bitcoin repeatedly. However, despite this fact, Bitcoin continues to take the lead. This is due to its vast market cap which is double that of Ethereum.

Moreover, McGlone believes that $100,000 is actually ‘tame’ for Bitcoin. He mentions how the price advance to May 24 is a ‘round error’. He contin...

This article was first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Hardly an unbiased opinion though.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.