Bitcoin could reach $100K with bulls back in control; Ether to $5K? - Bloomberg

The recent eye-catching rally seen in Bitcoin (BTC-USD), which started at $30K level in end-July of this year, could just be the beginning of an even larger surge to $100K, with Ethereum (ETH-USD) potentially reaching $5K, as both cryptos face increasing demand and diminishing supply, according to the Bloomberg Crypto Outlook, dubbed Onward and Upward. Ether (ETH-USD) (+9.3%) leads Bitcoin (BTC-USD) (+2%) on a M/M basis, outperforming BTC by almost three-fold Y/Y. Bloomberg's report said Bitcoin (BTC-USD) "is well on its way to becoming the digital reserve asset in a world going that way," but keep in mind that in order for a world reserve currency to function as "money", it must perform as a medium of exchange, unit of account, and a store of value. 2021 is a post-supply-cut year for Bitcoin (BTC-USD), where the reward for mining new blocks is cut in half, and reduces the supply of