In 2022, the United States is expected to see mass adoption of cryptocurrencies under proper regulation and a subsequent bull market. This view was expressed by Bloomberg strategist Mike McGlone in a new report.
He says that the rise of cryptocurrencies in 2021 was linked to the monetary policy of developed countries that sought to ease the economic crisis amid the pandemic.
McGlone is confident that in 2022 the U.S. Federal Reserve will unwind its emergency stimulus program in the face of rising inflation and a tight labor market.
The move is expected to boost Bitcoin and Ethereum, the analyst said.
In September, McGlone said that the growth in the number of dollar-pegged stablecoin transactions increases the value of the U.S. dollar.
Earlier in the month, he forecast Bitcoin to reach $100,000 and become a global reserve asset.
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