$ 100,000 in Bitcoin (BTC) and $ 2,000 in gold may welcome 2022 as global markets face “deflationary forces,” Bloomberg Intelligence reported.
One tweet 9. Mick McGlone, chief commodity strategist at the Bloomberg Research Arm, predicts next year will be good for both gold and BTC.
Deflation “Positive Dividend” for Bitcoin
When inflation hit the headlines around the world this month, Bitcoin was criticized for its alleged hedging role by dropping 39% from its all-time high.
The latest US consumer price index (CPI) data will be released on Friday, with analysts forecasting inflation to rise 6.7% year-on-year, Cointelegraph reports.
McGlone believes next year could be very different as inflationary pressures give way to falling commodity and stock prices.
“$ 100,000 in bitcoin, $ 50 in oil, $ 2,000 in gold?” He tweeted.
“Rising commodities and falling yields on long-term government bonds put the risk of a rebound in deflationary forces in 2022 with a positive distribution of bitcoin and gold.”
Comparison table of macro assets. Source: Mike McGlone / Twitter
ONE previous post stresses that crude oil prices today are about the same as before the 2008 global financial crisis.
Schiff predicts inflation “since the Middle Ages”
McGlone is known for his upbeat stance on bitcoin. Gold, which has been very volatile this year due to relatively stable performance compared to bitcoin, could also benefit from macroeconomic trends.
The bitcoin versus gold debate continues to be very hilarious, with trade advocates making mistakes as neither side is seeing the kind of return they believe will be characteristic of the fourth quarter.
However, there was a consensus on inflation.
“How long will it take for investors to realize that even if the Fed implements its inflation targeting plan to soften quantitative easing and small rate hikes in 2022, it will be too late to stop the inflation spike? yellow beetle peter schiff question this week.
“If Powell does not become medieval, there will be inflation!”
Inflation chart in the USA. Source: Tradingeconomics.com