$60K is now more likely for Bitcoin than $20K, Bloomberg's senior strategist ...
The analyst also treats the latest crypto ban in China as bullish for Bitcoin and the U.S. dollar. Bitcoin (BTC) has better probability of recovering back to $60,000 than to break below its current support level of $30,000 and target $20,000, believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence.A screenshot from McGlone's latest analysis on the flagship cryptocurrency, first shared by Bloomberg's senior ETF analyst, Eric Balchunas, shows him comparing Bitcoin's ongoing price action with the "too-cold" period of the 2018-19 trading session. In detail, the BTC/USD....
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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....
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