Mike McGlone Expects US to Welcome Crypto With Friendly Regulation in 2022

Bloomberg’s Senior Commodity Strategist Mike McGlone says that they strongly expect the US to embrace crypto with friendly regulation in 2022. He shared his view and how he thinks the crypto market will revolutionize in the year ahead.

We expect the U.S. to embrace cryptocurrencies in 2022, with proper regulation and related bullish price implications.

Also, McGlone asserted that there is a high possibility for the crypto space to see a paused, corrected, and refreshed bull market in the coming year. The undefined supply of fiat currency should keep rising prices, more especially in Bitcoin (BTC) and Ethereum (ETH), according to him.

Additionally, he is bullish to an extent that he wants to see immense crypto mainstream adoption in 2022 compared to 2021’s 50% correction. McGlone gave an oversight that he thinks the decline in the US Treasury bond returns may be a good thing to push BTC and ETH portfolios. He added,

Bitcoin appears to be on a trajectory for $100,000. A paused, corrected, and refreshed bull market is how we see bitcoin approaching 2022.

Apart from this, McGlone further addressed some of the most talked-about questions like whether Bitcoin is peaking or consolidating the bull market. This made him predict that they believe BTC will have key support of around $50k and $100k resistance in 2022. Whether Bitcoin (BTC) price will survive to hit $100k or not, he mentioned that they see it as a topic this time because of the economic basics of increasing demand vs. decreasing supply.

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