Bloomberg commodity strategist Mike McGlone said that Bitcoin value is on its way to reach $100,000.
“I expect it to be fully on the way to reach $100,000”
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McGlone believes that despite the heavy bearish pressure, Bitcoin will not fall below $30,000 throughout the year.
Analyst stated that Bitcoin continues on its way to become a global digital reserve asset.
However, McGlone noted that there is a huge speculative surplus in the crypto industry.
Bloomberg analyst states that the value of Bitcoin is still in the discovery process, and he thinks that its adoption is increasing day by day.
Bitcoin is trading at $39,141 on the Binance exchange at the time of writing.
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