- Analyst — Mike McGlone, explains how Bitcoin will hit $100,000, eventually.
- He states renewable energy for mining and Bitcoin halving as reasons for this possibility.
- Also, he believes that Bitcoin’s supply is dwindling and the time for Bitcoin demand will rise.
Many Bitcoin price analysts believe that the price of Bitcoin will reach $100,000. One among them is Mike McGlone. He believes this is inevitable and explains why in a newsletter.
In particular, McGlone compares the performance of Ethereum by stating how the crypto has outperformed Bitcoin repeatedly. However, despite this fact, Bitcoin continues to take the lead. This is due to its vast market cap which is double that of Ethereum.
Moreover, McGlone believes that $100,000 is actually ‘tame’ for Bitcoin. He mentions how the price advance to May 24 is a ‘round error’. He contin...
This article was first published on coinquora.com