{"id":47973,"date":"2021-08-19T19:52:51","date_gmt":"2021-08-19T16:52:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47973"},"modified":"2025-09-01T23:57:59","modified_gmt":"2025-09-01T20:57:59","slug":"bloomberg-strategist-says-ethereum-could-hinder-bitcoins-path-to-100000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-strategist-says-ethereum-could-hinder-bitcoins-path-to-100000\/","title":{"rendered":"Bloomberg Strategist Says Ethereum Could Hinder Bitcoin&#8217;s Path to $100,000"},"content":{"rendered":"<p>Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, believes that the main factor holding back Bitcoin&#8217;s growth could be Ethereum. He said this in an interview with the YouTube channel The Deep Dive.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Post <a href=\\\"https:\/\/twitter.com\/hashtag\/BrettonWoods?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BrettonWoods<\/a> 2021 outlook interview \u2014<br \/>What stops <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> from eventually joining most portfolios, notably <a href=\\\"https:\/\/twitter.com\/hashtag\/gold?src=hash&#038;ref_src=twsrc%5Etfw\\\">#gold<\/a> buckets held by central banks and getting to $100,000?<a href=\\\"https:\/\/t.co\/H2Bs9kWm5Y\\\">https:\/\/t.co\/H2Bs9kWm5Y<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a href=\\\"https:\/\/twitter.com\/mikemcglone11\/status\/1427987400224038913?ref_src=twsrc%5Etfw\\\">August 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier he repeatedly <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-strategist-bitcoin-price-to-reach-100000\">predicted<\/a> that the price of digital gold would reach the $100,000 mark. But, according to the expert, the obstacle to growth could be the second-largest cryptocurrency&#8217;s entry into the mainstream.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>People are beginning to understand that Ethereum is &#8216;the building block for all financial technologies, DeFi and infrastructure in a world that is becoming digital,&#8217; McGlone noted.<\/p>\n<\/blockquote>\n<p>As another major support for Ethereum&#8217;s price, the expert named non-fungible tokens (NFTs). Such assets are becoming extremely popular and are largely issued on the Ethereum blockchain.<\/p>\n<p>McGlone described former Goldman Sachs hedge-fund head and Real Vision TV CEO Raoul Pal&#8217;s forecast of Ethereum rising to $20,000 as overblown. But the price will not fall below $2,000; rather, the analyst said, it is more likely to exceed $4,000.<\/p>\n<p>In May, McGlone <a href=\"https:\/\/u1f987.com\/en\/news\/jpmorgan-institutions-could-shift-capital-from-bitcoin-into-gold\">supported<\/a> the JP Morgan analysts&#8217; view that a correction in the crypto market could push institutional investors to move from Bitcoin to gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senior commodity strategist at Bloomberg Intelligence Mike McGlone says Ethereum could be the main factor restraining Bitcoin&#8217;s growth. He said this in an interview with the YouTube channel The Deep Dive.<\/p>\n","protected":false},"author":1,"featured_media":47974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,46,1138],"class_list":["post-47973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-ethereum","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47973"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47973\/revisions"}],"predecessor-version":[{"id":47975,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47973\/revisions\/47975"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47974"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}