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As Bitcoin inches closer to its previous $20K all-time high, Bloomberg analyst Mike McGlone shared on Bloomberg TV that he’s bullish on what’s next for the benchmark cryptocurrency in the future and even predicted a $170,000 BTC price point by 2022.

Bitcoin closed Thursday at $17,821, slightly above the previous day and also a new 2020 high. It’s also the highest it has reached in the last three years.

With Bitcoin now less than $2,000 away from its previous high of just below $20,000, analyst Mike McGlone from Bloomberg believes the dominant crypto is not yet finished in its ascent.

McGlone said that since Bitcoin added one in front of its number compared to last year, it will likely add a zero to the back of its number next year or by 2022.

“If you look at past performance, which is potentially indicative of the future, next year or two could add a zero to the back of the number,” he said on Bloomberg TV.

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