Bloomberg strategist: 2022 will be the year of mass cryptocurrency adoption in the United States

The introduction of virtual assets will come with the necessary regulation and further market growth, Mike McGlone is sure

13.12.2021 - 07:10

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What’s new? Bloomberg Intelligence commodities strategist Mike McGlone believes that 2022 will be the year of mass cryptocurrency adoption in the United States. According to the expert, the regulations of the virtual asset market will also be introduced. This is stated in a new report prepared by the specialist.

Link to the report

What does the analyst write? According to McGlone, the crypto market will be bullish in 2022, leading to an increase in the value of digital assets. The strategist added that the cryptocurrency’s appreciation in 2021 has been driven by forced monetary policy in developed countries amid a pandemic.

Next year, according to the expert, the US Federal Reserve System will roll back its emergency economic stimulus program. This is indicated by a significant rise in inflation and a sufficiently large labor market. Such a move will have a negative impact on the stock market, but at the same time will stimulate appreciation of the most popular cryptocurrencies, BTC and Ethereum.

“By the end of 2021, the crypto market is showing a divergence with stock markets, and this may portend further growth of virtual assets,” McGlone added.

What statements did the specialist make earlier? In a report published in August, the strategist predicted an increase in the rate of the first cryptocurrency to the $100 000 mark. And in September, the expert said that “BTC is the main accumulative tool for saving your savings, and Ethereum is the main building block of Defi.”

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