Bitcoin pundits split over BTC floor as Bloomberg analyst eyes bounce
The jury is out on what data to trust when it comes to Bitcoin putting in a local price floor near — or below — $30,000. Bitcoin (BTC) could still fall under $30,000, but some prominent sources are already calling the end of the latest bearish turn on BTC/USD.In a tweet on Jan. 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, eyed Bitcoin’s position relative to its 20-week moving average, noting that historically, current levels have marked a turning point.McGlone: Bitcoin “a bit extended” at all-time highsStill hopeful for Bitcoin to weather a macro storm this....
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The illiquid supply floor demands the preservation of levels not far below $40,000 as supply drops and demand surges across the board. Bitcoin (BTC) must cost at least $39,000, says a new tool combining two of its most powerful metrics.In a tweet on Thursday, analyst William Clemente presented the illiquid supply floor chart — and its findings are firmly bullish for BTC.Bitcoin’s price floor rises and risesWith exchange reserves dwindling and major corporate buy-ins expected to be announced in the coming weeks, analysts are all but guaranteeing BTC price upside.As Cointelegraph reported,....
Despite the ongoing bear market and bitcoin price decline, some analyst still retains their confidence in Bitcoin. The Bloomberg Analyst Mike McGlone is one of them. He took to Twitter on Wednesday to express his thoughts about the most popular cryptocurrency. The analyst strongly believes that Bitcoin will bounce back from the bear market. McGlone […]
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.
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 senior analyst for Bloomberg shared the organization’s Crypto Outlook report explaining why bitcoin will outperform other assets over time.