Bitcoin could reach $ 100,000, gold $ 2,000 in 2022 thanks to “deflationary forces” – Bloomberg analyst

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$ 100,000 of Bitcoin (BTC) and $ 2,000 of gold could welcome 2022 as global markets face “deflationary forces,” according to Bloomberg Intelligence.

In a December 9 tweet, Mick McGlone, senior commodities strategist in Bloomberg’s research arm, predicted that next year would be good for gold and BTC.

“Positive ramifications” for Bitcoin thanks to deflation

As inflation grabbed headlines around the world this month, Bitcoin has come under fire for its alleged hedging role thanks to its 39% pullback from all-time highs.

As Cointelegraph reported, the latest US Consumer Price Index (CPI) data is due on Friday, with analysts assuming inflation to have risen 6.7% year-on-year.

Next year could be very different, McGlone said, as inflationary pressures give way to falling commodity and stock prices.

“$ 100,000 of Bitcoin, $ 50 of oil, $ 2,000 of gold?” He tweeted.

“The peak in commodities and the decline in long-term Treasury bond yields indicate risks of a resumption of deflationary forces in 2022, with positive ramifications for Bitcoin and gold. »Comparative table of macro-assets. Source: Mike McGlone / Twitter

A previous article pointed out that crude oil prices are now roughly the same as they were just before the 2008 global financial crisis.

Schiff predicts inflation “will become medieval”

McGlone is well known for his optimistic views on Bitcoin. Gold, much maligned this year due to its comparatively stable performance against Bitcoin, could also benefit from macro headwinds.

Related: Bitcoin Dips Below $ 50,000 As Evergrande Default On US Dollar Debt

The Bitcoin versus gold debate continues to rage, with supporters trading beards as neither side sees the kinds of gains they assumed to characterize the fourth quarter.

On inflation, however, a consensus emerged.

“How long before investors realize that even if the Fed implements its anti-inflation plan to cut QE and raise interest rates slightly in 2022, it will be too late to derail this juggernaut inflation? ” gold bug Peter Schiff interviewed this week.

“If Powell doesn’t go medieval, inflation will!” US inflation chart. Source: Tradingeconomics.com

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