Bitcoin will rise in price tenfold by 2025

Bitcoin will rise in price tenfold by 2025

1 bitcoin is going to make you a millionaire by 2025 – said experts crypto new digital money era btc

Contents

Bitcoin will rise in price tenfold by 2025
CONTENT

  • Bitcoin tends to add zeros to its price, Bloomberg analyst says

  • The nearest tenfold growth may take place by 2025

  • Cryptocurrency will need a “powerful catalyst” that is not yet on the market

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Bloomberg analyst predicts at least tenfold growth for the price of a leading cryptocurrency over the next five years

Bitcoin is able to grow to $ 100 thousand in five years. This is the conclusion reached by cryptocurrency analyst Bloomberg Mike McGlone in his new report.

Bitcoin will rise in price tenfold by 2025

According to McGlone, the largest cryptocurrency by market capitalization tends to “add zeros to its price”, citing the asset’s last jump from 1,000 to $ 10,000 in less than four years..

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At the same time, the analyst does not deny the possible failure of Bitcoin to conquer new price highs, although the current demand indicators remain positive.

“Given the natural maturation with a doubling of the price from 1,000 to $ 10,000, 2025 could be the year of adding zero to bitcoin’s price,” McGlone said..

Throughout his report, McGlone takes a double position: either the investment will pay off, or the cryptocurrency will crash. Commenting on the large capex on the part of MicroStrategy, a Bloomberg analyst said the investment “could be a mistake or another iteration in the massive adoption of a reference cryptocurrency.”.

Acceptance of bitcoin in the market. Source: bloomberg.com

Too little volume

McGlone believes that large organizations and central banks have so far shunned Bitcoin due to its small market capitalization (about $ 200 billion). However, if the market capitalization of the cryptocurrency increases, “it will become more and more like a digital version of gold.”.

Bitcoin will rise in price tenfold by 2025

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Also Bloomberg analyst predicts explosive growth market capitalization of Tether (USDT), which will ultimately give stablecoin a chance to overtake Ethereum (ETH) in 2021.

Source: coinmarketcap.com

McGlone does not name any approximate numbers, however, in order to overtake ETH, stablecoins – literally translated from English “stable” coins – continue to gain popularity in the digital asset market. With … More should add ~ $ 25 billion.

Despite the optimistic outlook, Bitcoin will need a “powerful catalyst” to continue to rise from current levels. This opinion was previously expressed by Ed Moya, Senior Market Analyst at Oanda Corporation..

“Once prices break above these levels, interest in cryptocurrencies will rise again, strengthening the bullish momentum in the market. A devaluation of the dollar will also benefit, ”Moya added..

At the time of this writing, the BTC / USDT rate is $ 10,727.

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