Bloomberg Senior Strategist: Bitcoin May Turn “Parabolic” In 2021
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 […]
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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:....
Bloomberg Intelligence senior commodity strategist Mike McGlone believes bitcoin is “more likely” headed for $40K instead of $20K after discussing the possibility of capitulation in a recent tweet. McGlone’s opinion follows a number of predictions that say bitcoin could drop to the $20K zone if there’s more pullback in the cards. Bloomberg Commodity Strategist Suggests Bitcoin ‘More Likely’ to Hit $40K Than $20K Bitcoin markets have improved on Wednesday, after the announcement stemming from El Salvador which recognized bitcoin (BTC) as legal tender in....
The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has been long on bitcoin for a while now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week the strategist’s analysis notes that bitcoin prices will likely revert toward the $60K handle in contrast to the $20K support range. ETF Analyst: ‘China Doesn’t Reject Bitcoin, Bitcoin Rejects China’ On July 23, Bloomberg’s senior exchange-traded fund (ETF) analyst Eric Balchunas shared a screenshot of Mike McGlone’s written statement concerning....
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 […]
After exploring the likelihood of capitulation in a recent tweet, Bloomberg Intelligence senior commodity strategist Mike McGlone feels bitcoin is “more likely” headed for $40K rather than $20K. El Savador Bitcoin Adoption Will Propel Bitcoin Following El Salvador’s announcement that bitcoin (BTC) is now legal cash in the country, bitcoin markets have increased on Wednesday. […]