Bitcoin At $100,000, Ethereum At $5,000 Is Path Of Least Resistance, Says Bloomberg Crypto Analyst

Crypto predictions are on the rise with the recent bull run that saw the price of bitcoin surge past $50,000 again. Now, Market analyst Mike McGlone lays out the path of Bitcoin and Ethereum hitting new highs that would see them both at least go up 100% from their current price points. In the most recent release of the Bloomberg Indices Outlook Crypto, McGlone puts bitcoin on course for $100,000 and Ethereum at $5,000. Related Reading | Venture Capitalist Bill Gurley Takes Personal Position In Ethereum, Here’s Why This comes from a revived bull market that began as the second quarter of 2021 draws to a close. Setting both digital assets and the crypto market at large for massive success. Despite bitcoin lagging behind as decentralized finance takes root in the industry, the analyst believes that the price is set to explode. Charging With The Bulls Currently, trends show that bulls still have complete control of the crypto market. This has seen bears lose massively with liquidated shorts. But it hasn’t always been peachy. Like any bull market, the recent one has been no different when it comes to correction. The present rally has been rife with various downwards corrections that have usually dragged prices down. But recoveries have been abundant with cryptos using these downwards corrections as bounce-off points for a fresh rally. Related Reading | Market Analyst Sees Bitcoin Peaking At $100,000 By Year-End The last c...