Ethereum

Long

Bitcoin

<p>The post <a href="https://coinpedia.org/news/top-reasons-why-bitcoin-price-reaching-150k-might-be-a-long-road-ahead/" rel="noopener noreferrer nofollow">Top Reasons Why Bitcoin Price Reaching $150K Might Be a Long Road Ahead</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Mike McGlone provided several reasons why it might take time for Bitcoin to hit $150,000. Firstly, he noted Bitcoin’s underperformance compared to the S&amp;P 500 and NASDAQ over the past few years, suggesting a need for improvement. Additionally, McGlone emphasized the importance of Bitcoin performing well against traditional markets and highlighted the potential launch of Ethereum ETFs.&nbsp;</p>
<p>He also discussed the enduring trend of Tether being the most widely traded cryptocurrency, serving as a stable digital representation of the US dollar. Moreover, McGlone mentioned the impact of taxes on cryptocurrency transactions and the need for regulatory compliance.&nbsp;</p>
<p>Furthermore, he pointed out current market signals indicating deflationary pressures, especially in historical patterns following periods of significant inflation. McGlone cautioned about the potential for a stock market correction leading to deflation and emphasized the Federal Reserve’s potential role in such a scenario.</p>
<p>However, he also acknowledged the risk of short-term deflation being followed by inflation, particularly given expansive monetary policies.</p>
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 <p>He said, “To me, it’s just a matter of time that Ethereum ETFs will be launched, but there’ll be problems in the meantime. But to get to $150000, I think that means that maybe the S&amp;P 500 needs another 30%.”</p>
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Top Reasons Why Bitcoin Price Reaching $150K Might Be a Long Road Ahead

CoinPedia News

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