Profound analysts and researchers at Bloomberg Intelligence namely Mike McGlone are judging present crypto-economic conditions positively. Particularly with regard to the crypto economy in the US, he believes that the future of crypto in the US isn’t just bright but promising.
In this connection, McGlone’s analysis of cryptocurrencies’ future in the US, for the year 2022, has been compiled in a report. For the purposes of making the analysis comprehensive, he also touched upon the issue of China banning cryptocurrencies. In addition, he also relied on the growing crypto markets of NFTs and decentralized finance (DeFi)
McGlone notes in this report that there are two reasons why Bitcoin’s and Ethereum’s economies will flourish in the US in 2022. The first reason he noted was that after succumbing too much pressure, the stock market in the US is returning to its ‘normalization’. The other reason he explained was that the yields are shrinking in the bonds available with the US Treasury. This shrinkage will have a positive impact on Bitcoin and Ethereum and a boost in their economies will find its way in.
He argued that the US cannot continue to ignore cryptocurrencies and digital assets. One way or the other US will be required to embrace crypto innovation and the innovation within such as NFTs and DeFi. He is sure that cryptocurrencies and digital assets will be officially welcomed and embraced in the US in 2022. There will be proper digital industry regulations which would then lead to a bullish crypto market in the US.
McGlone argues further that fiat currencies should resist inflation because their supplies are unlimited and not like digital currencies. He believes that because of the inflation, the adoption of Bitcoin, Ethereum, and other digital currencies will be ignited in 2022.
As regards Bitcoin’s future in 2022, he suggested that the future is rather bullish as per his analysis. He argued that at least for a decade from now, the economies of the world would likely continue as they are today. The conditions would be benefitting for Bitcoin allowing it to become a global instrument of surety like “security” or “collateral” for the digital market. He sees the 2022’s value of Bitcoin as US$ 50,000 and making its way up to US$ 100,000.
He commented that the latest correction has put Bitcoin on the path leading towards a US$ 100,000 value. The correction has eventually re-boosted Bitcoin bulls and Bitcoin is likely to enter 2022 with that bullish market, suggested McGlone.
As regards the eventuality of Bitcoin hitting a $100k value, he seemed quite analytical. He said that this is a question, the answer of which will be apparent after a certain time. In his personal view, however, US$ 100,000 value in 2022 is achievable but that depends upon the demand and supply factors.