Bloomberg senior strategist calls Bitcoin a global reserve asset on the path ...
Following a massive correction, digital assets led by Bitcoin and Ethereum are on track for new highs, according to a new report from Bloomberg. Bloomberg’s senior commodity strategist Mike McGlone has doubled down on call for six-figure Bitcoin (BTC), arguing that the first-born cryptocurrency is well on its way to becoming a global reserve asset that complements the United States dollar. The September edition of Bloomberg’s Crypto Outlook called $100,000 BTC and $5,000 Ether (ETH) the “path of least resistance” after the two assets survived a more than 50% correction through the summer.....
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"If Bitcoin were to catch up to Ethereum's performance this year, the No. 1 crypto's price would approach $100,000," believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence. Ether (ETH) has outperformed Bitcoin (BTC) in terms of year-to-date market performance, rising more than 320% against BTC's 54% returns. But, according to Bloomberg Intelligence senior commodity strategist Mike McGlone, Bitcoin would soon catch up to Ether's gains, which might even push its per-unit price to $100,000."If Bitcoin were to catch up to Ethereum's performance this year, the No. 1....
During 2020, Bitcoin price has risen from a low of $3,800 to $14,100, representing over 250 ROI year-to-date. As strong as this performance has been for the first-ever cryptocurrency, according to a Bloomberg Senior Commodity Strategist, Bitcoin may go “parabolic” in 2021 just like it did in 2017 and 2013. Here are the reasons for this prediction, straight from the Bloomberg Intelligence analyst. Bloomberg’s Mike McGlone: “Bitcoin May Undergo A Parabolic 2021” A new crypto […]
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....
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....
Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” In addition, the cryptocurrency may also “be entering unstoppable maturation stage,” the strategist added, expecting the price of bitcoin to continue to rise over time. Bitcoin’s ‘Unstoppable Maturation Stage’ Bloomberg Intelligence’s senior commodity strategist Mike McGlone provided his outlook for bitcoin this week. Citing rising demand, increased adoption, and regulation, he tweeted Wednesday:....