Analysts: Deflation will fuel bitcoin's rise to $100,000 next year

Mike McGlone also mentioned that fund managers now face a "greater risk" of not owning cryptocurrencies in their portfolios. He said, "While past outperformance is not a predictor of future outperformance, when a new asset class performs substantially better than the old, fund managers have little choice but to opt in."

So far in 2019, the Bloomberg Cryptocurrency Index is up 1,200%, while the S&P 500 is up only 90% in the same period.