BITCOIN could outpace stocks and reach $100,000 this year despite a recent crash, according to one expert.
Bloomberg’s Mike McGlone predicts Bitcoin will dominate the crypto market in 2022, and Etherium will hit $5,000.
“Expectations for Federal Reserve rate hikes in 2022 may support a win-win scenario for Bitcoin vs. the stock market,” said McGlone.
This analysis comes after several well-known cryptocurrencies nosedives this week.
Bitcoin was down almost 12 percent over the last seven days as of 9:30am Friday morning, according to .
At the same time, Shiba Inu was down almost 15 percent over seven days, and Ethereum was down about 14 percent, both according to .
It comes as one finance expert thinks Bitcoin’s worth could tank as low $10,000 (£7,400) per coin.
However, Goldman Sachs previously suggested that Bitcoin could reach a staggering value of $100,000 (£74,000) this year.
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Risks of investing in cryptos, part three
A third risk of investing in cryptocurrencies is product complexity.
The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.
There is no guarantee that cryptoassets can be converted back into cash.
Converting a cryptoasset back to cash depends on demand and supply existing in the market.
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Risks of investing in cryptos, part two
Another risk of investing is price volatility.
Significant price…
