Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand.
McGlone sees Bitcoin's capped supply as the main feature. He said that this potentially makes it a better store of value than gold, the total amount of which is unknown.
Given the fixed supply, Bitcoin is going to appreciate as demand for it increases. McGlone points at the growing number of active Bitcoin addresses and the increasing flow of Bitcoin into regulated exchanges as two main factors proving the increasing demand for Bitcoin.