• Bloomberg Intelligence’s Senior Strategist Mike McGlone believes Bitcoin is in a great position to rise towards $100,000.
• He bases his assumptions on the upcoming halving event and Bitcoin’s current fundamentals.
• McGlone also notes that astute investors and institutions are increasingly recognizing the need for Bitcoin exposure.
Bloomberg Analyst Predicts BTC Price Increase
Bloomberg Intelligence’s senior strategist Mike McGlone believes Bitcoin (BTC) has the right fundamentals to help push its price toward the $100,000 price point with the upcoming halving event in 2024.
Bitcoin’s Current Price Movements
At the time of writing, BTC is trading for $26,740.60, down by more than 4.2 percent over the past 24 hours. Although Bitcoin has had a very stellar month so far, if this current loss continues it may be forced to end this month on a negative basis.
Will BTC Reach $100K?
Many investors and crypto enthusiasts want to know if BTC can indeed reach $100,000 sometime in the future. While no one can tell for certain what will happen in terms of price or when, Mike McGlone is among those who believe this target is very mild and achievable for the asset given its current state of fundamentals and halving event coming up next year.
Correlation with S&P 500
In order for Bitcoin to reach its goals, it may have to decouple from its correlation with the S&P 500 which McGlone believes could be an impediment to further growth in 2021 or 2022 due to macroeconomic factors such as inflation caused by fiscal stimulus measures being implemented globally during a recessionary environment at that time period.
The Bottom Line
It remains unclear if/when BTC will reach its ambitious goal but what is certain is that increasing numbers of investors are recognizing it as an asset class worth holding onto long-term – something that could eventually lead us closer towards that six-figure mark some day soon!
• Cryptocurrency market volatility in 2022 could make 2023 a more profitable year for investments.
• DigiToads (TOADS) and The Graph (GRT) are two tokens that offer potential returns of up to 5.5x and greater stability in 2023.
• Investing now in these tokens could lead to significant profits by the end of the year, especially with the right investment decisions made.
Cryptocurrency Investment Opportunities in 2023
2022 was a tumultuous year for cryptocurrencies, with prices often dropping dramatically and investors uncertain about their future prospects. However, many believe that this is going to change as we move into 2023, as more people become aware of digital currencies and governments look at ways to regulate them. As such, those who invest wisely now may be able to turn a profit by the end of 2023 – especially if they’re savvy enough to take advantage of certain opportunities.
One token that has potential returns of up to 5.5x is DigiToads (TOADS). This immersive gaming project offers users an interactive environment where they can compete with their own digital companions. Early adopters are rewarded with financial benefits plus NFT staking, trading competitions and more – making it highly attractive for those looking for long-term investments in crypto that could pay off by the end of 2023.
The Graph (GRT)
The Graph (GRT) is another token offering great potential for investors this year as well as greater stability than other cryptocurrencies on the market. It’s an open-source software designed specifically for developers, allowing them to access data more efficiently within their dapps while also providing security through its native cryptocurrency GRT which is used as a means of payment within the system. With its current relatively low price tag compared to other coins on the market, it may be wise to consider investing early before its value increases significantly this year.
Benefits Of Crypto Investments
Investing in any type of cryptocurrency comes with its own unique set of advantages beyond just potential gains or losses on individual tokens or projects themselves: you can benefit from increased liquidity when selling your coins; you have control over how much you invest and when; and there’s no need for any third parties like banks or brokers taking a cut from your profits or charging fees for transactions like traditional investments do – instead all transactions take place directly between buyers and sellers using blockchain technology, making crypto investing far easier than ever before!
Making Smart Investment Decisions
It’s important not just to research into which tokens might make good investments but also keep yourself updated on news related to them so you have an idea about what kind of returns you can expect from each one over time – including information about any upcoming events or partnerships which could affect their value positively or negatively depending on how they pan out! Additionally, setting realistic goals will help ensure that your investment strategies don’t become too risky – remember not every investment will pay off so having multiple smaller ones rather than one large one could provide better overall results come next year!
• HSBC Holding’s UK arm will acquire Silicon Valley Bank UK Limited (SVB UK) for £1 ($1.21).
• The acquisition strengthens HSBC’s commercial banking franchise and allows them to serve innovative firms in the tech and life-science sectors.
• Circle’s USDC stablecoin is making a recovery, bouncing back towards its $1 peg after hitting lows of $0.87 during the weekend.
HSBC Acquires Silicon Valley Bank
HSBC Holdings has announced that its UK subsidiary will be acquiring Silicon Valley Bank UK Limited (SVB UK) for just £1 ($1.21). The purchase is meant to strengthen the company’s commercial banking franchise, allowing them to better serve innovative and fast-growing firms in the technology and life-science sectors.
Financial Details of Acquisition
As of March 10th, 2023, SVB UK had loans totaling around £5.5 billion and deposits equaling £6.7 billion. Profit before tax from December 31st, 2022 was estimated at £88 million with tangible equity expected to be at £1.4 billion by Q1 2023 results on May 2nd, 2023. The acquisition will be funded by existing resources but any potential gains or liabilities resulting from the parent companies of SVB UK are not included in this transaction.
Circle’s USDC Rebounding
In other news related to the financial sector, Circle’s USDC stablecoin is quickly making its way back up to its $1 peg after dropping down as low as $0.87 during the weekend slump. Currently sitting at around 3 percent gains for today alone, investors have gained confidence in cryptocurrency markets once again and are beginning to move their funds back into digital assets such as USD Coin (USDC).
Welcome to SVB Customers & Colleagues
HSBC has welcomed both customers and colleagues of SVB warmly into their fold while assuring them that their deposits are backed by safety, strength and security of HSBC itself. It remains to be seen how this acquisition plays out in the long run but it could certainly prove beneficial for all involved parties if handled correctly by HSBC management team over time.
HSBC’s acquisition of SVB marks an interesting change for both banks as well as investors who now have more options when it comes to storing their funds safely within crypto markets like USDC stablecoin which looks set to make a full recovery soon enough thanks to increased investor confidence being placed upon it currently..
-VeChain has announced a strategic partnership with the Boston Consulting Group (BCG).
-The partnership saw the creation of the protocol’s next Whitepaper with a focus on sustainability.
-The new VeChain Whitepaper details where it was at, where it is now, and where it is going in the near future.
VeChain Partners with Boston Consulting Group
VeChain has announced a strategic partnership with the Boston Consulting Group (BCG) to help drive its worldwide sustainability agenda. The partnership featured the creation of the new VeChain Whitepaper which focuses on sustainability.
Purpose of Partnership
The purpose of this strategic partnership is to drive individual sustainability to new heights by introducing easy-to-implement solutions within municipalities using blockchain technology. This can be achieved through enhancing transparency and trust in data between stakeholders while creating an immutable audit trail that supports regulatory compliance.
New VeChain Whitepaper
The new VeChain Whitepaper was released during its HiVe Event and details where it was at, where it is now, and where it is going in the near future. The whitepaper reads; “Empowered by blockchain and other technologies, we are building partnerships that will catalyse and support the coming sustainability transition”.
Benefits of Partnership for VeChain
This mega move reinforces VeChains branding as one of the most versatile enterprise grade blockchain protocols in the world. With BCG’s vast reach & expertise plus #VeChains advanced blockchain technology, they are driving a #sustainability revolution with $VET.
This strategic partnership between VeChian and BCG marks yet another milestone for both companies as they look to bring sustainable solutions using blockchain technology to people around the world.