Adoption, Scarcity to Fuel a Bitcoin Run to $100K: Report

Bitcoin Magazine

Despite having fallen by nearly 30% since its November all-time high, Bitcoin is in a consolidating bull market and on its way to $100,000, according to a Bloomberg Intelligence report. The paper said it is unlikely that BTC’s bull run has come to a halt and predicts the fixed supply to sustain increasing prices.

“The key question facing Bitcoin nearing the onset of 2022 is whether it’s peaking or simply a consolidating bull market,” the report said. “We believe it’s the latter, and see the benchmark crypto well on its way to becoming global digital collateral in a world going that way.”

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