It is, perhaps, one of the most optimistic predictions and / or projections. Mike McGlone, senior commodities strategist at Bloomberg Intelligence, stated this weekend that the price of Bitcoin could reach an astronomical $ 400,000 by the end of 2021.
McGlone justified his projection through a graph he shared on Twitter showing the average price of BTC (in dollars) and the Bitcoin Liquid Index, a price indicator created especially for institutional use.
The analyst explained that “BTC is on its way to becoming a global digital reserve asset.
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A maturity leap in 2021 may be Bitcoin’s transition to a risk-free asset.
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“McGlone refers to how this year marked a watershed moment in the history of the largest crypto currency.
This prediction overshadows other estimates, such as the stock-to-flow, which projects an average of $ 288,000 between now and 2024. According to the shared chart, a possible price spike this year, with past behavior as context, could lead to the crypto currency at $ 400,000 per unit.