In 2025, 1 bitcoin will cost $ 100,000

According to Bloomberg senior strategist Mike McGlone, the price of 1 bitcoin will reach $ 100,000 in 2025.

In a conversation with Kitco News, McGlone said that the Federal Reserve’s «sledgehammer» is putting pressure on cryptocurrencies in the short term. He is confident that with the falling real estate and bond markets, this could be one of the worst bear markets of the current generation, but bitcoin will trade like gold and long-term bonds, such as government bonds with a 30-year maturity.

At the same time, McGlone is confident that the current interest rate hiking strategy of the Fed will lead to a recession, and therefore the cryptocurrency market, like the stock markets, will fall even further in the near future.

In the case of Ethereum, the second largest cryptocurrency by capitalization, the analyst’s opinion is somewhat different. According to him, the further growth of this asset directly depends on the willingness of institutional players to invest in it.