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Bloomberg Intelligence senior commodity analyst, Mike McGlone, believes a “warm spell” is coming in terms of bitcoin markets as the market strategist detailed on Monday that “bitcoin appears poised to resume its inclination to outperform.” McGlone’s comments follow his previous prediction that noted bitcoin and ethereum appear to have “completed the bulk of their drawdown.” […]Powered by WPeMatico
Bloomberg Intelligence senior commodity analyst, Mike McGlone, recently wrote that “cryptos could regain [an] edge” when he discussed bitcoin and ethereum in a report published on Bloomberg’s terminal on Nov. 3, 2022. McGlone detailed that volatility in bitcoin and ethereum has dropped to low levels in comparison to traditional assets, and this trend could “tilt […]Powered by WPeMatico
Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” In addition, the cryptocurrency may also “be entering unstoppable maturation stage,” the strategist added, expecting the price of bitcoin to continue to rise over time. Bitcoin’s ‘Unstoppable Maturation Stage’ Bloomberg Intelligence’s senior commodity strategist Mike McGlone […]Powered by WPeMatico
The senior commodity strategist is bullish on Bitcoin, revealing on Oct. 18 that its relative discount to hash rate has hit levels not seen since the first quarter of 2020.
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On Friday, October 7, 2022, the precious metals gold and silver dropped in U.S. dollar value following the recent U.S. jobs report for September. The USD value of gold per troy ounce is awfully close to slipping below the $1,700 range, while the price of silver is teetering near the $20 threshold. Precious Metals Price […]Powered by WPeMatico
Over the last two days, Bloomberg Intelligence commodity analyst Mike McGlone published the firm’s commodity and crypto outlook reports, and McGlone’s latest analysis details that the price of gold could resume its rally after a foundation similar to 1999 is constructed. Moreover, as far as bitcoin and ethereum are concerned, the analyst argues that the […]Powered by WPeMatico
With the Merge resulting in a ‘buy the rumor, sell the news event,’ Mike McGlone thinks that ETH might drop to “$1,000, or even get a bit lower” given how hawkish the Fed has been.
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The commodity strategist has pegged Bitcoin to rebound strongly from the bear market despite headwinds for high-risk assets.
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The price of BTC could be set for a bullish rebound this year, says Bloomberg’s senior commodity strategist Mike McGlon, as the market shows similar signs to the bottom of 2018.
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Ethereum price has been increasingly in lockstep with the Nasdaq, but there’s a catch.
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