Bitcoin could reach USD 100,000 by 2022 thanks to the “deflationary force”, gold USD 22,000
Mike McGlone argues that a new macro disorder will affect Bitcoin’s strength.
$ 100,000 in Bitcoin (BTC) and $ 2,000 in gold could welcome 2022 as global markets face “deflationary forces,” says Bloomberg Intelligence.
In one tweet 9. Mick McGlone, chief commodities strategist at Bloomberg Research Arm, predicts the next year will be good for both gold and BTC.
“Positive dividend” for Bitcoin thanks to deflation
When inflation hit the headlines around the world this month, Bitcoin was criticized for its supposedly hedged role due to its 39% decline from its all-time high.
As Cointelegraph reported, the latest US consumer price index (CPI) data will be released on Friday, with analysts forecasting inflation to rise 6.7% year-on-year.
McGlone believes next year could be very different as inflationary pressures give way to falling commodity and equity prices.
“$ 100,000 bitcoin, $ 50 oil, $ 2,000 gold?” He tweeted.
“Rising raw materials and falling yields on long-term government bonds lead to the risk of a recovery in deflationary forces in 2022 with a positive allocation to Bitcoin and gold.”
ONE previous post stresses that crude oil prices today are roughly the same as before the 2008 global financial crisis.
Schiff predicts inflation “beginning in the Middle Ages”
McGlone is known for his bullish stance on Bitcoin. Gold, which was highly volatile this year thanks to its relatively flat performance versus Bitcoin, could also benefit from macro trends.
Related: Bitcoin falls below $ 50,000 as Evergrande defaults on US dollar debt
The bitcoin-versus-gold debate continues to be very gay, with proponents of the trade making mistakes as neither side sees the kind of return they believe will characterize the fourth quarter.
However, there was consensus on inflation.
“How long will it take for investors to realize that even if the Fed implements its anti-inflation plan to ease quantitative easing and raise rates a little in 2022, it will be too late to stop inflation spike? yellow beetle Peter Schiff question in this week.
“If Powell doesn’t get medieval there will be inflation!”