Bitcoin had an incredible moment of action on September 3, and it fell below the $ 11,000 level again with a sudden drop. The September cryptocurrency report of Bloomberg analyst Mike McGlone, which exactly coincided with this decline, attracted attention with an interesting statement.
Bloomberg’s well-known name, McGlone, stated that the price of Bitcoin could go up to $ 500,000 or down to $ 0. The experienced name states that Bitcoin is taking firm steps towards becoming digital gold. McGlone emphasized that its biggest companion and assistant is the limited supply.
Two Possibilities for Bitcoin
Despite steadily increasing demand, the limited supply of BTC, just 21 million, reminds McGlone of the bull run in 2017:
“A large part of the cryptocurrency industry is reminiscent of 2017, but the base of the market is getting harder and tighter due to growing decentralized exchanges and decentralized finance practices. The steadily increasing demand against limited supply is paramount to Bitcoin. ”
At the end of this statement, McGlone stated that Bitcoin could go up to $ 500,000 in the current macroeconomic situation or could fail and go down to $ 0. The fact that the analyst’s prediction is true means that the leading cryptocurrency has become a $ 9 trillion asset.
This can lead to BTC, which surpasses 170 fiat money in terms of total market value per press hour, reaching such a value and becoming the third largest currency.
After the BTC price declined today, the CEO of Binance cryptocurrency exchange made a more decisive statement than McGlone. Changpen