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

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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


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