Bloomberg Intelligence’s senior strategist Mike McGlone has made a bold prediction that Bitcoin (BTC) could reach $100,000 as the cryptocurrency market gears up for the April halving. According to McGlone, BTC is forming a solid foundation already with all the right fundamentals in place.
Despite recent volatility and uncertainty surrounding global markets due to COVID-19 concerns, McGlone believes that this only strengthens BTC's case as a safe haven asset. In an interview with Crypto News Flash, he stated: "The set-up for Bitcoin to soar is forming already."
With its limited supply and growing mainstream adoption, many analysts predict that BTC will continue to rise over time. The upcoming halving event will further reduce the rate at which new Bitcoins are produced by half – adding even more scarcity and potentially increasing demand.
While some remain skeptical of such high projections for BTC's price point in the short term, others see it as a realistic possibility given current market trends. Only time will tell if McGlone's prediction comes true or not – but one thing is clear: Bitcoin continues to capture attention from investors worldwide.