He knew $ 10,000 and $ 12,000! Analyst Heralds These Levels In Bitcoin Now
Bloomberg’s senior commodity strategist Mike McGlone says Bitcoin could be on a path to six figures and beyond. In addition, the master analyst explained the levels Bitcoin will see by giving dates.
Mike McGlone: Bitcoin price can do what gold does
In a new interview with Bloomberg TV, veteran analyst Mike McGlone evaluates the price performance of Bitcoin over the past years. In addition, the analyst interprets how the price trajectory of the leading cryptocurrency will be in 2021. Mike McGlone adds the following to his comments on the subject:
GOOD RESISTANCE AS 20,000 DOLLARS IN A SHORT TERM. IT WILL POSSIBLY DO WHAT THE GOLD DOES: IT HAS REACHED $ 2,000 AND HAS BEEN CONSOLIDATED IN THE BULL MARKET SINCE. THE MOST IMPORTANT THING ABOUT BITCOIN THIS YEAR IS THE ADDING ONE IN FRONT OF THE NUMBER. DO NOT FORGET THAT IT WAS AROUND 7,000 DOLLARS AT THE END OF THE LAST YEAR… THE NEXT YEAR CAN ADD ZERO TO THE PRICE OF 18,000 DOLLARS.
Analyst: Bitcoin could grow tenfold by the end of 2021 to roughly $ 180,000
According to Mike McGlone’s estimates, Bitcoin could grow tenfold by the end of 2021 to roughly $ 180,000. Mike McGlone continues to highlight some factors that show that Bitcoin will rise parabolically in the next calendar year. The analyst points out that the volatility of Bitcoin has decreased even against the traditional stock market. Mike McGlone adds the following to his comments on the subject:
BITCOIN BECOMES A DIGITAL VERSION OF GOLD. AN IMPORTANT POINT HAPPENING THIS YEAR IS THE DECREASE OF BITCOIN VARIABILITY. IN FACT, THE LOWEST RATIO EVER COMPARED TO GOLD. IN BITCOIN, 180 DAYS OF VOLATILITY AGAINST NASDAQ IS INTENTLY BELOW NASDAQ. THAT IS INCREASING THE VOLATILITY OF ALL OTHER RISK ASSETS ON THE PLANET. IF BITCOIN IS FALLING
Mike McGlone: The new rally will be fed by corporate FOMO
Mike McGlone says the recent bull cycle was mainly fueled by individual investors’ fear of kidnapping (FOMO), but that cycle could be fueled by a Wall Street equivalent. Mike McGlone adds the following to his comments on the subject:
AND WHAT HAPPENS TO QE (QUANTITATIVE EXPANSION)? WE ALL KNOW THAT THERE IS LIMITED BITCOIN SUPPLY… THE INDIVIDUAL FOMO TRIGGED THE FIRST RALLY AND NOW THE CORPORATE FOMO WILL FEED THE NEW CYCLE. LIMITED SUPPLY AND DEMAND IS COLLECTING AND THE MACRO TREND IS VERY POSITIVE. BITCOIN MOVES BY DEMAND… THE ONLY THING IS IMPORTANT NOW DEMAND. SUPPLY LIMITED. WILL BE ONLY 21 MILLION.
Here are the successful predictions of Bloomberg analyst Mike McGlone.
Bloomberg analyst Mike McGlone stated and knew that Bitcoin will see $ 10,000 in early 2020. Mike McGlone gave the good news of $ 12,000 while the Bitcoin price was around $ 9,000 in recent months, and he knew that. Apart from these, the analyst has other successful insights.