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Mike McGlone: “I believe in the success of bitcoin and ether”

The Bloomberg analyst was impressed by the resilience of Bitcoin and Ethereum amid the fall of the crypto market and said that he believes in the future of top digital currencies. Mike McGlone emphasized in an interview that cryptocurrencies, despite a not-too-good year 2022, are becoming more and more fixed in the minds of investors. More and more commodity traders are paying attention to digital assets: “Commodities have problems with the elasticity of supply and demand. Manufacturers will always be able to create more products for less money, or hope for the stupidity of people. Things are different in cryptocurrencies – the amount of available ETH and BTC is declining, and their adoption is still negligible. When I look at this situation, I think of Netflix, it's the best way to make money.” McGlone Believes Bitcoin and Ethereum Prices Are Likely to Rise Significantly. However, assets need to overcome the resistance of the falling stock market – the cryptocurrency market, in general, correlates with the stock market. “I have every confidence that bitcoin and ether will outperform other assets, but they will still be under pressure when the stock market falls.. In fact, ETH shocked me – despite all the ups and downs, it grew in price by 10%. Yes, Ethereum may lose this growth, but I am confident that it will hold support at $1,000,” Bloomberg analyst predicts. In early November, Mike McGlone already said that he was confident in the growth of bitcoin and ether – this is facilitated by the acceptance of these assets by society.