- Bloomberg’s Senior Commodity Specialist Mike McGlone predicts $1 Trillion Bitcoin by market cap before the end of 2022.
- Bitcoin’s supply is considered as constrained where unlimited coins limit price.
- According to Mike McGlone, $10,000 BTC will increase to almost $20,000 in 2021
Bloomberg’s Senior Commodity Strategist Mike McGlone made a BTC prediction 2022 wherein it’ll reach a $1 trillion market cap.
$20,000 #Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap —
The digital version of #gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is rising.. pic.twitter.com/m4JSt5G09N
— Mike McGlone (@mikemcglone11) November 16, 2020
McGlone also wrote a crypto report for Bloomberg, saying that Bitcoin “may undergo a parabolic 2021” just like 2013 and 2017. Additionally, as the surge has already occurred in series, McGlone estimated alongside his prediction that Bitcoin will again skyrocket.
McGlone said about $10,000 BTC resistance could be up to almost $20,000 in 2021. Furthermore, other existing crypto saving accounts are deemed to be part of boosting Bitcoin demand.
Bitcoin continues to track and massively records absolute points with rapid gains towards a more successful year ahead. As the 2017 bull run followed the 2016 Bitcoin halving, Mike McGlone predicts 2021 to yield triple of the previous years.
Additionally, Bitcoin has a limited supply. Consequently, this will cause Bitcoin to have a better price. With this, Bitcoin’s yearly supply will drop to about 2% a year coming. Moreover, McGlone expects Bitcoin to exceed $35,000 in 2021 with a total supply of 18 million.
Moreover, the Bloomberg BTC prediction 2022 says that it will surpass its previous records and advance to over 5,000% until 2022. For this to happen, Bitcoin needs only to add 900 new coins to the already existing 18 million.