Reducing supply, growing demand and a favorable macroeconomic background will become drivers for the development of the price forecast for bitcoin, writes Mom McGlone, an analyst at Bloomberg Intelligence, in his report.
So, he mentioned the Bitcoin halving scheduled for May, suggesting that a decrease in the remuneration for the mined block could just serve as an incentive for an increase in the coin’s supply. Already now, the fact is fixed that the volatility of the first cryptocurrency is declining amid rising securities. In addition, the introduction of incentive measures by central banks aimed at curbing inflation and supporting various sectors of the economy during the total spread of COVID-19 also contributes to the growth in the value of digital assets. Bitcoin emission policy leads to the creation of ideal conditions for the growth of cryptocurrency.
“We expect that the wider cryptocurrency market, according to the Bloomberg Galaxy Crypto Index, will continue to follow the example of bitcoin,” Mike McGlone suggested.
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