Bloomberg Analyst: Bitcoin’s Link With Nasdaq Being Broken Favors Continuation
Bitcoin has given a powerful buy signal that demanded the financial world begin paying closer attention to cryptocurrencies. The recent momentum has also caused the top crypto asset to “decouple” from the stock market. Thus far, it has been primarily crypto analysts shouting about the coming decoupling, but now even Bloomberg Intelligence senior commodity strategist Mike McGlone says that the divergence away from the Nasdaq 100 is the “underpinnings for further appreciation.” Here are the […]
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Bitcoin is on track of further price appreciation as it decouples from a classic positive correlation with tech stocks, according to Mike McGlone of Bloomberg Intelligence. On Wednesday, the senior commodity strategist highlighted the ongoing trend deviation between the flagship cryptocurrency and the Nasdaq 100 Stock Index — a benchmark that tracks the market performance […]
Bitcoin price predictions have been a hot topic for a while now. Bloomberg Analyst, Mike McGlone believes that the price of BTC hitting $100,000 is tied to the asset following ethereum. This came in the monthly cryptocurrency newsletter sent out by Bloomberg Crypto Outlook. McGlone said this in the July version of the newsletter that […]
A recent meltdown in the Bitcoin price from its record high near $42,000 has done little to shake its bullish bias, at least according to a Bloomberg analyst.