Key Points
- Bitcoin’s price is expected to reach $100,000 by the end of 2021, according to a Bloomberg analyst.
- The analyst also predicts a bullish trend for Ethereum, with a potential price of $5,000.
Bitcoin and Ethereum Price Predictions
Bitcoin’s price could potentially reach $100,000 by the end of 2021, according to Bloomberg analyst Mike McGlone. He made this prediction based on Bitcoin’s past performance and current market trends.
McGlone believes that Bitcoin’s increasing adoption and its limited supply could drive up its price. He also mentioned that the cryptocurrency’s price has been following a similar pattern to the one it had in 2013 and 2017, both of which were bull market years.
Ethereum’s Bullish Forecast
In addition to his Bitcoin forecast, McGlone also predicted a bullish trend for Ethereum. He suggested that Ethereum’s price could potentially reach $5,000.
He based his prediction on Ethereum’s increasing use in decentralized finance (DeFi) and non-fungible tokens (NFTs). Both these sectors have been growing rapidly, and Ethereum is the leading blockchain platform for both.
While these predictions are optimistic, it’s important to note that the cryptocurrency market is highly volatile and unpredictable. Therefore, investors should always do their own research and consider their risk tolerance before investing in cryptocurrencies.
