Mcglone claims: Bitcoin May Enhance Dollar Dominance, Highlight China Drawbacks – Despite concerns about China’s development of a digital yuan, Bitcoin is enhancing the dollar’s dominance and is a risk to gold. He states that, even though this prospect remains, the chances of it … Cryptocurrency. McGlone Is Always There When Bitcoin Spikes. Additionally, Bitcoin has a limited supply. This analysis is by Bloomberg Intelligence analyst Mike McGlone. 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. In the past 24 hours alone, the strategist’s data revealed that investors were now seeking Bitcoin instead of gold. Bitcoin may be accentuating the drawbacks of a lack of free markets & discourse. Mike McGlone is a highly respected, veteran trader and analyst. In a recent tweet, McGlone stated he believes BTC is ''on its way to becoming a global digital reserve asset''. Mike McGlone – senior commodity strategist at Bloomberg Intelligence – explains in a recent analysis: The technical outlook for bitcoin in 2021 remains strongly upward, if past patterns repeat. As the 2017 bull run followed the 2016 Bitcoin halving, Mike McGlone predicts 2021 to yield triple of the previous years. Source: Twitter. Mike McGlone, a senior commodity strategist, revealed in his previously released report that he believes that Bitcoin is way ahead of others in the adoption race and that could continue to rise in 2020. An enormous inflow from gold to Bitcoin has been cited in the market. McGlone Is Always There When Bitcoin Spikes. Bitcoin still on track to reach $50,000. McGlone says he expects weeks of consolidation to end as Bitcoin’s volatility hovers at a level where big breakouts tend to erupt. “#Bitcoin Trust on Track to Surpass World's Largest #Commodity ETF - In a world going digital, we believe #gold symbolizes the diminishing potential for sustained commodity-price advances, notably vs. Bitcoin. Bitcoin could also be headed for the $100,000 mark by the end of this month, according to Mike McGlone, a Bloomberg analyst. He arrived at his speculations after carefully studying Bitcoin’s recent growth trajectory. An analyst from Bloomberg Intelligence, Mike McGlone, has shared his analysis on the future of Bitcoin. Bloomberg Intelligence strategist Mike McGlone expects Bitcoin to march toward $100,000. They claim that bitcoin is going […] Mike McGlone: Bitcoin Likely to Hit $170,000 In Two Years . 2020 cleared the path for an all-digital world and proved that decentralization and scarcity are extremely powerful in this day and age. Mike is not bullish on anything other than bitcoin. Nous voudrions effectuer une description ici mais le site que vous consultez ne nous en laisse pas la possibilité. He stated that the asset’s next threshold will cross Amazon’s market […] In recent days, speculation has been growing that Oracle was set to become the next big corporation that would hold Bitcoin in reserve. Bitcoin has become relatively stable after dropping to its $58,000 mark. The crypto is a prime example of how advancing innovation suppresses” Bitcoin has surged like no other asset. At the same time, the trade-weighted broad dollar index is up about 30% vs. closer to 20% for gold. "Holding the April 28 price of copper near $9,800 a ton and yields constant, gold would be closer to $2,300 an ounce instead of about $1,780, to match the 10-year relationship between the copper/gold ratio and bonds," he calculated. Access the full Bloomberg Crypto Outlook – October 2020 edition. Bloomberg’s senior commodity strategist is clear with his big picture outlook for the Bitcoin price, and can’t see anything stopping it rising. A drop in Grayscale’s Bitcoin Trust (GBTC) premiums could spark a bullish rally to $100,000, says a prominent industry analyst. Bitcoin Chart. The total trading volume of Bitcoin versus gold is much higher at the moment, the chart says, compared to the overall known BTC holdings versus gold. The currency is presently trading for about $58,000 – just $3,000 shy of its all-time high. In a report published on Tuesday, he writes that the “steepest ever” Grayscale discount could be viewed as a surefire sign that the largest cryptocurrency is gearing up for another leg up if history is any guide.. However, while this may all sound dandy at first, there are many analysts out there who seem to think this is just the tip of the iceberg. Bloomberg’s Mike McGlone has emerged to mention that the price of bitcoin could potentially reach $170,000 come 2022. Mike McGlone Says Bitcoin is Turning to a Global Reserve Asset. Mike McGlone, a Chief Bloomberg Strategist has recently stated that he expects Bitcoin to create a higher price plateau as demand for BTC keeps growing. In it, he says Bitcoin is in its “price discovery stage.” Bitcoin’s threshold to gold could surge 100x, bumping it to $50,000 sooner than later. Bloomberg's Mike McGlone believes Bitcoin could hit $80,000 — up 40% from current levels. And you can clearly see downflow or outflows in gold ETFs and inflows in anything to do with bitcoin. Right now, it kicked in really around Q4 last year. March 30, 2021 0 Comments . Jonathan Baldwin. Bitcoin has cooled off after surging to $57,258.25 — and it appears the rumor mill hasn’t been helping matters. While commenting on the upcoming halving, he said that “it’s a non-event a complete non-event, it’s for amateurs” and that “knowns don’t matter in markets.” He stands firm on his bullish take on bitcoin. — Mike McGlone (@mikemcglone11) November 23, 2020. Bloomberg analyst Mike McGlone shared a bullish BTC tweet a few hours ago, in which he pointed out that historical trends suggest we could see BTC/USD 8X from current prices. McGlone: $100K Could Be Here Soon . Why The Cryptocurrency Will Outperform The Precious Metal Forever More. McGlone pointed to data that shows the Chinese RMB is effectively flat in the 11 years since bitcoin came into existence. Bloomberg’s Mike McGlone, the Senior Commodity Strategist bared this out in a newly published analysis. Mike McGlone shared a screenshot of a chart showing that, since 2017, investors have been more and more frequently choosing Bitcoin over gold when it comes to selecting a store of value. Bloomberg Intelligence commodity strategist Mike McGlone says Bitcoin is set for a major breakout, with the leading cryptocurrency targeting $13,000 in the near term. McGlone is a leading expert when it comes to bitcoin and the price trends its follows. November 24, 2020. Bitcoin continues to track and massively records absolute points with rapid gains towards a more successful year ahead. According to a tweet by Bloomberg Intelligence senior commodity strategist Mike McGlone, GBTC’s premium flipped into the negative range following bitcoin… Mike McGlone: Bitcoin to USD $100k by 2025. China’s efforts to build a central bank digital currency (CBDC) are merely efforts to catch up to the global organic adoption of digital dollars — which are further strengthened by a rising USD and bitcoin — wrote Bloomberg analyst Mike McGlone in a Friday note. If not for bitcoin, gold could be trading well above $2,000 an ounce, McGlone said, adding that the popular cryptocurrency continues to limit gold's upside potential. Over the past seven months, something rather strange and intriguing has happened with bitcoin. Senior Commodity Strategist at Bloomberg, Mike McGlone has been painting a bullish narrative for Bitcoin lately. November 25, 2020. His latest finding predicts very large figures for Bitcoin. Bitcoin may be in for a $100K bull run next if a classic signal coming from institutions repeats its historical trend. The chief strategist of Bloomberg has said that he believes the oldest cryptocurrency is still in a price discovery mode and has expectations that it will continue to appreciate. His Bitcoin to USD $100k by 2025 is a more conservative prediction compared with other respected, macro strategists. 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. Table of Contents. As shown in the chart, Bitcoin could reach a price of over $400,000 by 2021 considering price behavior in the past. And it makes sense. Long-time Bloomberg strategist Mike McGlone says bitcoin will break its previous all-time high of $20,000 by the end of next year. In a March 4 tweet, a senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated that those seeking clues about what lies next for BTC should look at the Grayscale Bitcoin Trust (GBTC). Performance aside, Bitcoin is better than gold in every way. Mike: Right now, the gain, the way you started, is completely clear and factual, based on the evidence that the gain in bitcoin is the loss in gold. McGlone, a senior commodity strategist for Bloomberg Intelligence and regular crypto commentator, says bitcoin is on pace to surpass its former ATH in 2021. Bitcoin (BTC) has reached prices that haven’t been seen for a long time, currently stagnating between USD 17,000 and USD 18,500 before deciding on its next move. McGlone is a leading expert when it comes to bitcoin and the price trends its follows. Bloomberg’s Mike McGlone says Bitcoin enhances dollar dominance and is a risk to gold. Mike McGlone of Bloomberg believes Bitcoin could reach $170,000 in the next two years Bitcoin. Bitcoin could reach a historic high and then consolidate as gold did, according to the analyst. Bloomberg’s Mike McGlone has emerged to mention that the price of bitcoin could potentially reach $170,000 come 2022.McGlone Is Always There When Bitcoin SpikesMcGlone is a leading expert when it comes to bitcoin and the price trends its follows. His report states that the two most significant factors which are assisting bitcoin’s cause are its set amount of 21 million BTC, and ability growing adoption as a store-or-value asset. Spread the love. It appeared first on the Bloomberg Terminal. Mike McGlone has tweeted that, in 2021, chances are high that the cryptocurrency market will grow so much that it may prevent Bitcoin from revisiting its 2017 all-time high of $20,000. Mike McGlone also emphasized that he is not bullish on anything else other than Bitcoin. In the latest Bloomberg crypto newsletter, analyst Mike McGlone points out that bitcoin “has had a tendency of adding zeroes to its price,” adding that the asset previously went from $1,000 to $10,000 in under four years.. McGlone, who previously ascribed a $50,000 plus level for the cryptocurrency, said during a March outlook report that if the Grayscale Bitcoin Trust Mike McGlone: Bitcoin Likely to Hit $170,000 In Two Years. 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