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Bloomberg Intelligence released a crypto sphere outlook for 2021. The insights by Commodity Strategist Mike McGlone expects that in 2022 there will be clear regulatory framework and bullish trends in the crypto industry in the US.
The prediction is based on China's ban and the development of disruptive technologies including In McGlone’s opinion, stablecoins may be misnamed, given that their majority track the dollar. The expert also mentioned that assets with limited supply such as BTC and Ether are likely to increase in price. Broader adoption and overcoming most swings is supposed. The continuous decline in the U.S. Treasury bond yields may boost the prices of BTC and Ether.
Bloomberg's analysis says if stock prices fall, Bitcoin will have a win-win opportunity.
The release highlights the fact that funds have been flowing out from gold towards BTC and Ether. Also, it says crypto may have an advantage over broad equities in 2022. Although cryptos are risk assets, the chance that they will turn into stores of value are high, the release says.