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Bloomberg predicts that Bitcoin will reach $100,000 in the near future; but how quickly will this happen?
Despite the present volatility of the crypto market, there are still significant optimistic feelings, particularly for Bitcoin. According to a recent Bloomberg research, which also provides insight into Ethereum’s near-term performance, $100,000 is the next critical price milestone for Bitcoin. The study is reinforced by the fundamentals and increasing market adoption of Bitcoin, which has put Bitcoin in a unique position to soar to new highs. Meanwhile, the price of Bitcoin has begun to rebound after the recent drop.
According to Bloomberg experts, Bitcoin’s next important price milestone might reach $100,000
According to Bloomberg Intelligence, the next significant price for Bitcoin is expected to be $100,000. According to a team of experts lead by Bloomberg’s senior commodities strategist, Mike McGlone, the market behavior of Bitcoin indicates that the asset is establishing a bottom price rather than a ceiling. Bitcoin has moved in the $30,000 to $60,000 price range, reaching the bottom and high twice in 2021.
Bitcoin is more likely to form a floor than a ceiling, which implies that range traders expecting $30,000-$60,000 may be disappointed. According…
