Bitcoin can reach $400K in 2021 as 'risk-off reserve asset' — Bloomberg
With institutions demanding protection from inflation and dollar depreciation, historical trends could see BTC/USD 8X from current prices, says Bloomberg Intelligence. Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a "risk-off" choice for investors.In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency.$400,000 BTC would "rhyme" with historyMcGlone uploaded a chart of the BTC/USD average price and....
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Federal Reserve policy should mean markets see a long-awaited comedown of up to one fifth, says Bloomberg Intelligence's Mike McGlone. Bitcoin (BTC) will soon no longer be a risk asset and investors should brace for a fresh price correction, says one of Bloomberg's best-known analysts.In an appearance on the Wolf of All Streets podcast on Jan. 18, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, sounded the alarm on global markets' “up only” narrative.McGlone: Bitcoin 'least risky' crypto betAs Bitcoin struggles in 2022, those hoping for a dramatic return to form will....
Bitcoin has picked up its bullish momentum in the last 24 hours. High levels of Institutional adoption, fundamentals, and on-chain indicators look bullish and point to an extension of the rally, at least, in the long term. In a recent report, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, states that Bitcoin is in a […]
As the global economy moves into a recession in the second half of 2002, Bitcoin will likely rally alongside gold and treasury bonds, according to Mike McGlone, a senior commodity strategist at Bloomberg. Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted:“ I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on....