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.
Read our cryptocurrency live blog for the latest news and updates…
-
Man loses $1.6million in scam
A man says he lost his life savings in a scheme dubbed the “Pig Butchering Scam.”
The 52-year-old told Denver ABC affiliate KMGH-TV that he met a woman on a dating app who appeared to have similar interests to him.
The conversation turned to cryptocurrency, something he’d made about $70,000 on in a few years.
The man told the news outlet that the woman he fell for online convinced him to invest on a mobile and web app that seemed legitimate to the software…