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Bloomberg’s chief commodities strategist Mike McGlone tweeted about the trajectory of crude oil prices, comparing it with the dynamics of bitcoin.
McGlone believes that unlike a commodity, bitcoin will grow during this decade due to three factors – acceptance, supply and demand.
The expert does not see special price prospects for oil, while the future of bitcoin seems to him quite optimistic.
Analyzing the past decade and evaluating the next decade, the key question is what could change the unfavorable trajectory of the price of crude oil compared to the favorable one for bitcoin. I see a higher probability of repeating the same.
Bitcoin adoption has accelerated recently as more financial institutions and retail investors purchase BTC by making long-term bets on it.
Recently, a major investor and author of the book “Rich Dad, Poor Dad” Robert Kiyosaki wrote on Twitter that he is still optimistic about the future of BTC, but expects a new testing of the bottom of the asset.
A similar view is shared by Guggenheim Partners Chief Investment Officer Scott Minerd. He believes that bitcoin can test the bottom at $ 8,000, but unlike 19,000 worthless cryptocurrencies, it will stand.
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