Bloomberg estimates that Bitcoin can reach $ 100,000 / Argentina News

While Bitcoin struggles to go back above $ 50,000, the market continues to make predictions about what the price of the main cryptocurrency will be in the coming months. According to Bloomberg, it would reach $ 100,000.

The recent declines in the cryptocurrency market mean that both Bitcoin and altcoins maintain weak buying activity, despite several oversold signs on the charts. This fact dynamites the optimism of investors since reduces the possibility of a significant price increase for January, especially given the loss of bullish momentum on the weekly and monthly charts. But one of the most followed analysts in the crypto community has renewed his bullish predictions.

‘Bloomberg’ Intelligence senior commodities strategist Mike McGlone reaffirmed his previous price predictions for both bitcoin and the number two cryptocurrency by market capitalization, Ether.

He keeps waiting for the first one to reach $ 100,000, while he sees ether – a unit of the Ethereum network – at $ 5,000.

Cryptocurrency adoption

“We expect the United States to embrace cryptocurrencies in 2022, with proper regulation and the related bullish price implications,” states McGlone in his latest report, adding that “unlimited supply of fiat currency should sustain rising pricesespecially bitcoin and ethereum, which are in limited supply. ”

The price of Bitcoin, Ethereum, and most major cryptocurrencies have skyrocketed, in part due to massive monetary stimulus measures undertaken by the United States Federal Reserve and other central banks around the world, which have fueled the price of stocks and assets in general.

However, rising inflation and a strong US job market could cause the Federal Reserve to reduce its stimulus program in 2022, leading to a sentiment of aversion to risky assets. However, according to McGlone, it could mean that the price of bitcoin and ethereum continued to rise even as stock markets fell, as it “may point to a macroeconomic environment in 2022 that favors major cryptocurrencies.”

“Cryptoassets showing divergent strength versus equities near the end of 2021 may herald continued performance on digital assets in 2022.” In fact, the expert believes that a fall in the stock market would be “profitable for bitcoin”, which “appears to be on a trajectory toward $ 100,000”, and “on its way to becoming a digital store of value,” similar to gold.

“We see it more as a matter of time, mainly due to the economic fundamentals of increasing demand versus decreasing supply,” concludes McGlone.

Creator of bitcoin

Cryptocurrencies became one of the technological revolutions most important in recent years. In this sense, one of the digital currencies that has had the most impact is Bitcoin; However, the doubts around who was responsible for its creation have been up in the air for several years.

The person responsible for this asset is Satoshi Nakamoto, but that has always been a pseudonym for someone whose identity has not been revealed and even whom very little is known about. Despite this, the identity has generated significant legal controversies.

Australian engineer Craig Wright said he is behind Nakamoto’s identity.

For many specialists in the area of ​​blockchain technology, the Bitcoin origin thanks to the book bitcoin white, an article written under the name Nakamoto and published in 2008, where he discussed the open source protocol and peer network. Months later, he began mining coins.

Although many years before, in 1983, cryptographer David Chaum developed a first cryptographic system and this was conceived as a kind of money, the reality is that its advances did not become so relevant among the community and, therefore, it is not considered the father of cryptocurrencies, although it is one of its main precursors.

So far, very little data on Nakamoto are known and the information available on the matter are, rather, estimates. For example, bitcoin.com, the analytics site of cryptocurrencies, mentions that you can currently have more than a million bitcoins. However, Nakamoto does not enter the lists of the richest people, because it is not possible to confirm his fortune.

Cryptocurrencies, a business that grows.

According to the approximations, Nakamoto would have a fortune of about $ 59 billion, making him one of the 30 richest people in the world.

Craig Wraight is Satoshi Nakamoto?

While Sakamoto’s identity has not been released, many people think that he is actually Australian engineer Craig Wright, who has even repeatedly said that he is the holder of the pseudonym. However, that version has not been accepted by much of the crypto community.

Despite the fact that there are people who do not accept that, Wright had to initiate a legal dispute in 2018 to prove that he was responsible for this cryptocurrency, Well, the engineer said that he was the creator and that Nakamoto was his pseudonym; However, the family of his friend Dave Kleiman, who died in 2013, assured that he helped him create the asset.

This Monday, case settled in favor of Wright, who will not have to hand over half of 1 million bitcoins to Kleiman’s relatives. However, the judge awarded $ 100 million to a joint venture for intellectual property rights, which is only a fraction of the amount requested by Kleiman’s lawyers.

After this fact, the cryptocurrency community hopes that Wright will deliver on a promise to prove that he is the owner of the first bitcoins mined in history, which would lend credence to the claim that he is Nakamoto, a statement dating back to 2016.

Within this controversy, some spokesmen for the bitcoiner community have taken on the task of exposing Wright and even Wikileaks has pointed out that he is a “serial forger”. Despite this, the engineer claimed the copyright to the white paper, and Nakamoto’s name was not part of the jury’s deliberations.

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