Technical Outlook: Still in Price-Discovery Mode, #Bitcoin Plateau Appears Distant — Bitcoin supply is declining and demand is rising, leading us to expect continued price appreciation and the establishment of a higher plateau as the crypto matures. Current resistance levels for BTC ($40,000) are 22 times that of gold ($1,800). — Mike McGlone (@mikemcglone11) June 26, 2020. Mike McGlone: BTC Prediction 2022 to Reach $1 Trillion Bloomberg’s Senior Commodity Specialist Mike McGlone predicts $1 Trillion Bitcoin by market cap before the end of 2022. Mike McGlone, a senior commodity strategist for Bloomberg Intelligence, remains relentlessly bullish on Bitcoin. Mike McGlone says BTC ‘has a history of adding zeros,’ and the current all-time high of $20,089 is the main thing standing in the way of a trillion-dollar market cap A senior commodity strategist at Bloomberg Intelligence says a $1 trillion market cap for Bitcoin is in sight. Moreover, the Bloomberg BTC prediction 2022 says that it will surpass its previous records and advance to over 5,000% until 2022. BTC struggled a lot today to cross its all-time high that the digital asset managed to reach on March 13. What Happened: McGlone, who … Bloomberg’s Mike McGlone says BTC could be headed to $50K as gold loses appeal. Crypto Market Expands by $170B, Bitcoin, Ethereum, and Binance Coin Rises, Nvidia Targets $150 Million Revenue From New Ethereum Mining Processor, Celsius boss predicts Bitcoin ending the year at around $100k. The next two assets it has to overtake before surpassing Amazon are Google's Alphabet and silver. Bloomberg's Mike McGlone says BTC could be headed to $50K as gold loses appeal. The Bitcoin-to-gold price ratio could shoot to 100x with the digital asset’s volatility possibly dropping to gold levels by 2024. Meanwhile, Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, argued that BTC will probably maintain its price discovery and adoption into the mainstream. Mike McGlone, the senior commodity analyst at Bloomberg Intelligence notes that Bitcoin (BTC) is on a transition to becoming the Risk-off reserve asset in 2021. Mike McGlone has tweeted that Bitcoin is now ahead of Tesla by this fundamental metric. October 28, 2020 Mike McGlone of Bloomberg has stated that bitcoin can potentially reach the $100,000 mark over the next five years as it gets closer to becoming a store of value instead of a payment currency. — Mike McGlone (@mikemcglone11) March 4, 2021. Mike McGlone – senior commodity strategist at Bloomberg Intelligence – explains in a recent analysis: The technical outlook for bitcoin in 2021 … By. Bitcoin Chart. BTC he says has a habit of adding zeros since 2011, and this will continue in the future albeit at a slower pace. The bitcoin price target has been increased to $400,000 by analyst Mike McGlone in the April edition of Bloomberg’s Crypto Outlook 2021 report. Collins Adane is a writer who follows the crypto industry closely. Tags: bitcoin, bitcoin price, Mike McGlone The current 260-day volatility for BTC sits at 50%, which he equates to gold’s 1980 volatility levels. According to a tweet by Bloomberg Intelligence senior commodity strategist Mike McGlone, GBTC’s premium flipped into the negative range following bitcoin’s price pullback to $43,000. For instance, in a recent interview, Bloomberg Intelligence’s senior commodity strategist Mike McGlone discussed bitcoin sustaining current levels. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Following the lead of Coibase, Kraken exchange based in the United States will be the second one on the list. The senior commodity strategist at Bloomberg Intelligence shared his bullish stance in a tweet posted on Monday. Source: Twitter . 3. McGlone said Bitcoin was on track to match Gold’s level of risk by 2024. Additionally, as the surge has already occurred in series, McGlone estimated alongside his prediction that Bitcoin will again skyrocket. With the Bitcoin price rhyming with its historical patterns, we could see BTC reach $400k this cycle according to a senior analyst at Bloomberg.. Mike McGlone, the senior commodity strategist at Bloomberg Intelligence tweeted his observation saying Bitcoin was maturing and on its way to becoming a ‘risk-off reserve asset’. — Mike McGlone (@mikemcglone11) November 23, 2020. Besides BTC, top altcoins also regained their upward momentum, with BNB leading the gains and ETH soaring to a new lifetime high near $2,190. In a recently published Bloomberg report, senior markets editor John Authers speaks about Bitcoin’s growing popularity as an inflation hedge asset. For this to happen, Bitcoin needs only to add 900 new coins to the already existing 18 million. He loves fish stew and Real Madrid. The falling supply and the increase in demand have lead Mike McGlone to believe that the price of BTC will continue to surge over time. Bitcoin price has continued to show signs of immense weakness on Friday after failing to stage a meaningful rally. BTC he says has a habit of adding zeros since 2011, and this will continue in the future albeit at a slower pace. It is mandatory to procure user consent prior to running these cookies on your website. Bitcoin will continue its bullish push towards $50,000 as investors move funds out of gold and into the digital asset, according to Bloomberg senior commodity strategist Mike McGlone.. By 2024, he believes its volatility could even reach gold levels, driving the price much further. Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, revealed a report stating his own opinions concerning BTC and its related future adoption race framed within the cryptocurrency domain. 一个月历经5个低谷，btc行情渐稳，市场日臻成熟 来自： 8btc.com 归档时间：2018-10-10 据CCN10月9日报道，彭博分析师Mike McGlone在谈到加密货币交易量的下降时表示，这是一个成熟的市场，因此波动性应该会继续下降。 McGlone: $100K Could Be Here Soon Over the past seven months, something rather strange and intriguing has happened with bitcoin. The Bitcoin-to-gold price ratio could shoot to 100x with the digital asset’s volatility possibly dropping to gold levels by 2024. In a recent tweet, McGlone stated he believes BTC is ''on its way to becoming a global digital reserve asset''. Elon Musk's top-tier car production company is in spot 14 with a $540.39 billion cap value. Bitcoin will continue its bullish push towards $50,000 as investors move funds out of gold and into the digital asset, according to Bloomberg senior commodity strategist Mike McGlone.. By 2024, he believes its volatility could even reach gold levels, driving the price much further. These cookies do not store any personal information. McGlone says that the $1.5 billion invested in BTC through Tesla was a real “inflection point” for the digital currency, and likely caused many large businesses to see the asset in an entirely different light. Bitcoin will continue its bullish push towards $50,000 as investors move funds out of … Viber. He reminded the crypto community that the circulating supply of Bitcoin is falling and the demand for BTC is growing. This website uses cookies to improve your experience while you navigate through the website. Image by @mikemcglone11 According to Mike McGlone, BTC still has room to run before reaching a cycle top or ”plateau” and is well primed to see roaring demand from new investors soon. Bitcoin will continue its bullish push towards $50,000 as financiers move funds out of gold and into the digital possession, according to Bloomberg senior product strategist Mike McGlone. According to McGlone, BitcoinBitcoin We also use third-party cookies that help us analyze and understand how you use this website. — Mike McGlone (@mikemcglone11) June 26, 2020. McGlone said about $10,000 BTC resistance could be up to almost $20,000 in 2021. As shown in the chart, Bitcoin could reach a price of over $400,000 by 2021 considering price behavior in the past. A Bloomberg Senior Strategist Mike McGlone, believes that Bitcoin will turn parabolic in 2021 as we are reading more in our news. Learn more.By clicking “Accept”, you consent to the use of ALL the cookies. Mike McGlone de Bloomberg dit que BTC pourrait se diriger vers 50K $ alors que l’or perd de son attrait. Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. But not all analysts see a big BTC rally on the horizon. WhatsApp. $400,000 BTC would “rhyme” with history. This website uses cookies to ensure you get the best experience on our website. Mike McGlone of Bloomberg has stated that bitcoin can potentially reach the $100,000 mark over the next five years as it gets closer to becoming a store of value instead of a payment currency. According to McGlone, the cryptocurrency is “eclipsing” Yuan’s global adoption. Is Bitcoin Immune to the Effects of Biden’s Recent Tax Proposal? The downfall in the global economy forced by the coronavirus pandemic has pushed several financial institutions and retail investors to appreciate BTC this year as a hedge against the inflation that is expected in the near future. Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, revealed a report stating his own opinions concerning BTC and its related future adoption race framed within the cryptocurrency domain. McGlone says that the $1.5 billion invested in BTC through Tesla was a real “inflection point” for the digital currency, and likely caused many large businesses to see the asset in an entirely different light. McGlone highlights that the Grayscale Bitcoin Trust (GBTC) closed at a 2.7% discount at the end of February. “About $30,000 is the threshold supported by a … McGlone highlights that the Grayscale Bitcoin Trust (GBTC) closed at a 2.7% discount at the end of February. In addition to this, he revealed that in the near future, a higher BTC plateau will be created as the crypto sphere grows to be stronger and mature. Mike McGlone, a senior commodity strategist at Bloomberg Intelligence recently posted a graph showing the BTC/USD annual average price and the Bitcoin Liquid Index. He says: Rising equity riches partially diversifying into bitcoin is logical, in our view. 0. The popular crypto analyst TraderX0 tells his 40,000 Twitter followers that BTC’s historic price action suggests the crypto king will drop to $5,000 before starting a new bull cycle. Negative Premium May Push BTC To $100K Necessary cookies are absolutely essential for the website to function properly. Performance aside, Bitcoin is better than gold in every way. McGlone and other Bloomberg researchers set a bullish target for BTC price at $400,000 if the cryptocurrency follows the trends in previous bull runs. Bitcoin’s supply is considered as constrained where unlimited coins limit price. Bloomberg’s Senior Commodity Strategist Mike McGlone made a BTC prediction 2022 wherein it’ll reach a $1 trillion market cap. Twitter. But not all analysts see a big BTC rally on the horizon. 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