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Bloomberg Cryptos Outlook - What to Expect in 2022

Released on Thursday, January 27, 2022•Cryptocurrency

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Incentivized by China's ban and the proliferation of revolutionary technologies such as crypto dollars and non-fungible tokens (NFTs); we expect the US to embrace cryptocurrencies in 2022, with proper regulation and related bullish price implications. Stable coins may be misnamed, as most of them track the dollar. The unlimited supply of fiat currency should sustain rising prices, notably in Bitcoin and Ethereum, which have limited supply. What might trip up the advancing three musketeers - Bitcoin, Ethereum and crypto dollars - may be the more profound question for 2022, but we expect wider adoption to prevail and overcome most wobbles, like 2021's near 50% correction. Some normalization in stock-market returns and a continued decline in US Treasury bond yields may shine on Bitcoin and Ethereum in portfolios.

Mike McGlone

Bloomberg Intelligence, Senior Macro Strategist

Mike McGlone is a senior macro strategist for Bloomberg Intelligence, a unique research platform that provides context on industries, companies, and government policy, available on the Bloomberg Professional service at BI. Mr. McGlone joined Bloomberg in 2016 with over 25 years of futures and commodity trading and investing experience, beginning at the Chicago Board of Trade. He specializes in the broad investible commodity and crypto markets, authoring the monthly Bloomberg Commodity Outlook and Bloomberg Crypto Outlook. Mr. McGlone is a CFA Charter holder and has earned a Financial Risk Manager (FRM) designation.