Mike McGlone, senior commodity strategist at Bloomberg Intelligence, has changed his view on the future of cryptocurrency prices this year. He previously forecasted a drop in Bitcoin to $10,000, but his predictions have now shifted.
McGlone Revises Bitcoin Forecast
In his tweet, Bloomberg's strategist discussed the new U.S. economic policy set by President Donald Trump, which includes high trade tariffs on former trading partners like Canada, Mexico, China, and the EU. McGlone believes this will affect risk assets, with cryptocurrencies expected to lead the way. 'Cryptocurrencies are likely to continue leading the way,' he stated. He also predicted further rise in gold prices.
Economic Policies and Cryptocurrencies
Countries affected by the tariffs have responded with similar measures. This has implications for risk assets such as cryptocurrencies, which remain volatile and highly speculative. Earlier this year, McGlone predicted that Bitcoin could fall from the $100,000 level to $10,000, comparing it to the dot-com bubble burst.
Robert Kiyosaki: Silver is the Top Investment
Robert Kiyosaki, author of the book 'Rich Dad Poor Dad,' has suggested that silver could be a highly profitable investment in the near future. He expects it to double in price to $70 per ounce this year. Kiyosaki considers silver the best asset among Bitcoin, gold, and silver for the next two months and recommends holding all three.
Expert opinions on the future of cryptocurrencies and precious metals remain divided. While Mike McGlone revises his Bitcoin forecasts, Robert Kiyosaki advises investing in silver. It remains to be seen how these predictions will impact financial markets.
