Fun

Analyst Expects US to Embrace Crypto With Proper Regulation in 2022 – Sees ‘Refreshed’ Bitcoin Bull Market

News Feed - 2021-12-13 12:12:43

Analyst Expects US to Embrace Crypto With Proper Regulation in 2022 – Sees "Refreshed" Bitcoin Bull Market


Analyst Mike McGlone with Bloomberg Intelligence has shared his outlook for the cryptocurrency market going forward. “We expect the U.S. to embrace cryptocurrencies in 2022, with proper regulation and related bullish price implications,” he detailed. Noting that “Bitcoin appears to be on a trajectory for $100,000,” the analyst added that we are likely to see “A paused, corrected and refreshed bull market.” Crypto Market Outlook and Bitcoin’s Price Prediction


Bloomberg Intelligence (BI) published its 2022 crypto outlook report last week. “Incentivized by China’s ban and the proliferation of revolutionary technologies such as crypto dollars and non-fungible tokens (NFTs),” BI senior commodity strategist Mike McGlone explained: We expect the U.S. to embrace cryptocurrencies in 2022, with proper regulation and related bullish price implications.


“The unlimited supply of fiat currency should sustain rising prices, notably in bitcoin and ethereum, which have limited supply,” he added. “We expect wider adoption to prevail and overcome most wobbles, like 2021’s near 50% correction.”


Furthermore, “Some normalization in stock-market returns and a continued decline in U.S. Treasury bond yields may shine on Bitcoin and Ethereum in portfolios,” McGlone noted.


The analyst further shared: “The key question facing bitcoin nearing the onset of 2022 is whether it’s peaking or simply a consolidating bull market. We believe it’s the latter, and see the benchmark crypto well on its way to becoming global digital collateral in a world going that way. It’s likely to be about key support around $50,000 and $100,000 resistance in 2022.”


McGlone described: Bitcoin appears to be on a trajectory for $100,000 … A paused, corrected and refreshed bull market is how we see bitcoin approaching 2022.


Regarding whether the price of BTC will hit $100K, the analyst emphasized: “We see it as more of a question of time, notably due to the economic basics of increasing demand vs. decreasing supply.” Tags in this story analyst prediction, bitcoin market outlook, bitcoin price prediction, Bloomberg Intelligence, crypto market 2022, crypto outlook, crypto price prediction, cryptocurrency outlook, Mike McGlone


Do you agree with the analyst’s crypto outlook and prediction? Let us know in the comments section below. Rich Dad Poor Dad"s Robert Kiyosaki Insists Depression Is Coming – Predicts "Gold, Silver, Bitcoin, Real Estate Will Crash Too" MARKETS AND PRICES | 1 day ago Institutional Investors Expect Major Correction in Crypto Market Next Year MARKETS AND PRICES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFractional NFT Markets See Significant Growth in 2021 as Market Cap Surpasses $200 Million Next articleKorean Officials Quit Jobs to Join Crypto Industry, Lawmaker Reveals Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItAces, Jokers, and NFTs: Playing Card Manufacturer Bicycle Launches NFT Genesis Collection


The well known playing card manufacturer Bicycle has announced the launch of the company’s first non-fungible token (NFT) collection. The NFT card collectibles called the “Genesis Collection” were designed by the artist Adrian Valenzuela and the first drop of NFTs ... read more.Miami Mayor Francis Suarez Plans to Take a Fraction of His 401k in Bitcoin Bitcoin.com Wallet Adds Support For Multisig (Shared) Wallets Crowdfunding Platform Kickstarter Will Shift to Blockchain-Based Model Ethereum Co-Founder Vitalik Buterin Publishes "Plausible Roadmap" Addressing Scalability

News Feed

Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding
Inflation Hit Ethiopia Demonetizes Currency To Curb Cash HoardingThe Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash h
Square Enix Exploring Blockchain Game Development as Part of Oasys Project Partnership
Square Enix Exploring Blockchain Game Development as Part of Oasys Project Partnership Square Enix, one of the biggest Japan-based gaming companies, has inked a partnership with Oa
Chainalysis: Crypto Scam Revenue Dropped 46% in 2022
Chainalysis: Crypto Scam Revenue Dropped 46% in 2022 Revenue from cryptocurrency scams dropped 46% in 2022, according to blockchain data analytics firm Chainalysis. “We attri
Adshares Establishes Premium Partnership With Sandbox
Adshares Establishes Premium Partnership With Sandbox press release PRESS RELEASE.Adshares (ADS) is putting another stake in Metaverse’s advertising territory through a partn
WazirX restores balances post-hack, withdrawal timeline unclear
Amaka Nwaokocha11 hours agoWazirX restores balances post-hack, withdrawal timeline unclearThe delay in withdrawals has impacted individual investors and raised concerns about the overall security and reliability of crypt
Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T
Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&TA California judge has dismissed the $200 million in damages claim against the telecom giant AT&T for alle
Economics Professor Tyler Cowen Says Cryptos Useful as Hedges or Forms of Payments – ‘Not Both’
Economics Professor Tyler Cowen Says Cryptos Useful as Hedges or Forms of Payments – "Not Both" Tyler Cowen, an economist and professor at George Mason Univers
UK body proposes property category for crypto assets, SEC sued over status of NFTs: Law Decoded
Josh O"Sullivan2 hours agoUK body proposes property category for crypto assets, SEC sued over status of NFTs: Law DecodedThe Law Commission’s final report urges the UK government to reclassify crypto assets, addressing
Cointelegraph Innovation Circle9 hours ago16 tips to help blockchain companies refine their marketing messagesBlockchain companies aren’t just selling themselves; they’re also selling the industry’s technology and
Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month
Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month While billions of dollars in crypto assets have been withdrawn from Binance, th
Biggest Movers: XRP Rebounds on Tuesday, as AVAX Hits 1-Week High
Biggest Movers: XRP Rebounds on Tuesday, as AVAX Hits 1-Week High Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price fl
Crypto Startup Avanti Receives License To Operate as National Bank in Wyoming
Crypto Startup Avanti Receives License To Operate as National Bank in Wyoming Crypto startup Avanti Financial Group has been granted a license to offer banking s