Analyst Predicts Crypto Bull Market: $100K Bitcoin, $5K Ethereum Is Path of L...
Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of least resistance. He expects the crypto market to thrive in a “refreshed bull market.” Cryptocurrencies Poised to Thrive, Bull Market Revived Commodity strategist Mike McGlone discussed his price predictions for bitcoin and ethereum in the September edition of Bloomberg Crypto Outlook, published Friday. “Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep....
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Crypto giant Bitcoin may have witnessed significant volatility, causing its price to drop as low as $91,000 after reaching a new all-time high. However, a crypto analyst believes that BTC’s bull run has not yet reached its peak, suggesting an impending move toward new highs and a market top. Market Top For Bitcoin Above The […]
Bloomberg Intelligence analyst Mike McGlone sees “a refreshed bull market” for bitcoin. Comparing the performance of the cryptocurrency to the start of 2019, he explained, “we see performance parallels that could get the benchmark crypto back on track toward $100,000.” Bitcoin Back on Track Toward $100,000 Bloomberg Intelligence published analyst Mike McGlone’s August cryptocurrency outlook with a price prediction for bitcoin Wednesday. McGlone described that bitcoin is set to turn $40,000 into support, stating that “This year is prime for bitcoin to....
The pseudo-anonymous bitcoin analyst called Plan B gave his 704,000 Twitter followers an update on the notorious stock-to-flow (S2F) bitcoin price model. Plan B stressed on August 27, that the “next months will be key” as he believes the bitcoin S2F model “predicts $100K by Christmas.”
‘$100K by Xmas’
Plan B is a popular figure in the bitcoin world as the pseudo-anonymous analyst is well known for his stock-to-flow (S2F) price model. In basic terms, the model quantifies the commodity’s (bitcoin) scarcity and then divides it by....
Crypto predictions are on the rise with the recent bull run that saw the price of bitcoin surge past $50,000 again. Now, Market analyst Mike McGlone lays out the path of Bitcoin and Ethereum hitting new highs that would see them both at least go up 100% from their current price points. In the most recent release of the Bloomberg Indices Outlook Crypto, McGlone puts bitcoin on course for $100,000 and Ethereum at $5,000. Related Reading | Venture Capitalist Bill Gurley Takes Personal Position In Ethereum, Here’s Why This comes from a revived bull market that began as the second quarter....
PlanB, the popularizer behind the Bitcoin S2F method, says the model predicts BTC will break $100k by this Christmas. The Bitcoin Stock-To-Flow Model According to PlanB on Twitter, the BTC stock-to-flow (or S2F in short) model predicts that the cryptocurrency is on its way to break $100k by Christmas. The S2F model is a method to predict the price of an asset based on the ratio of the stock (supply) to the flow (annual production). PlanB is commonly known as the originator of the model, which is, however, not true. The method was already used for other assets like gold or silver before the....