2022 could come with better things than a COVID free Uganda and open economy. Bloomberg senior commodity strategist, Mick McGlon, predicts bitcoin could finally hit the $100K dollar mark due to deflationary pressures of the digital currency. Even though many experts doubt this, Mick McGlon argues that peaking commodities and the declining yield on the Treasury long bond could point to risks of reviving deflationary forces in 2022, hence positive ramifications on Bitcoin.
Analysts bear risk that the next U.S. Consumer Price Index (CPI) information in visible form progress will show a significant 6.7% period-in contact-period increase. According to McGlone, this becoming more intense inflationary trend gives bear a chain of cause and effect on merchandise prices and equities. However, this swelling rate of commodity prices will help push the financial worth of BTC and match play to new extreme happiness. “$100,000 Bitcoin, $50 Oil, $2,000 Gold.
However much Bitcoin was predicted to reach the $100,000 mark in 2021, it failed. Investors expected the currency to hit the mark after it reached its new $68k ATH in early November. The market however saw a great setback which saw the coin drop to lows of $42,000 going back to its current price of $48,379. If this prediction doesn’t get you to invest in BitCoin, we don’t know what will.