Bitcoin (BTC) Still On Course To Hit $ 100,000 In 2022, Bloomberg Says


A breakthrough driven by the global adoption of cryptocurrencies

the Bloomberg Intelligence report points out several factors that could favor an increase in the price of Bitcoin in 2022. The current landscape has changed greatly since the start of the year: China has banned cryptocurrency mining, and previously confidential technologies (non-fungible / NFT tokens in particular) have come to the fore.

As a result, for Bloomberg, cryptocurrencies will continue to find their way and reach a wider audience next year:

We expect the United States to seize cryptocurrency in 2022, with real regulations and “bullish” consequences on the price.

The report notes that in 2021, the cryptocurrency industry began to decorrelate from the equity market. And if the separation is not yet clear, the trend will continue next year:

The benchmark crypto, which is becoming a digital store of value, remains in a “price discovery” mode. […] Bitcoin will encounter initial difficulties if the stock market falls, […] but crypto could ultimately become a primary beneficiary.

👉 Also discover – The IMF wants a global and coordinated regulation of cryptocurrencies

Bitcoin: a haven in the face of the falling dollar?

Bloomberg expects the Federal Reserve’s key rates to be raised during the year, which would help establish Bitcoin as a viable alternative to the dollar.

The analysis indeed notes that a major upside factor for BTC will be unlimited issuance of fiat currencies. While governments – especially the United States – inject money artificially to support a battered economy, Bitcoin and its cronies appear to be more solid:

We expect wider adoption to prevail and overcomes most problems, like the correction of almost 50% known in 2021.

👉 To read – MicroStrategy takes advantage of the fall in the price of Bitcoin to buy an additional 1,434 BTC

A Bitcoin at 100,000 dollars in 2022

Hence a rather optimistic price prediction from Bloomberg Intelligence. The analysis believes that recent movements in the price of Bitcoin are not a sign that it has peaked. It would rather be a phase of consolidation of the bull market, which extends over the longer term.

Bitcoin seems to be on a path to 100,000 dollars. We see Bitcoin heading into 2022 with a bull market that has taken a hiatus, and has been renewed.

In addition, the largest cryptocurrency will not be the only one to benefit from a positive year, according to the analysis. Bloomberg Intelligence notes that the “three musketeers”, namely Bitcoin, Ether (ETH) and “crypto-dollars” as he modestly names them will continue to make a place for themselves in the portfolios of investors.

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About the Author : Marine Debelloir

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Deputy Editor-in-Chief on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to unearth the crispest information to share it with you.
All articles by Marine Debelloir.

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