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Despite a massive drawdown in May, the Bitcoin (BTC) bull market appears to be intact, with a $100,000 price target more likely than a retrace to $20,000, according to Bloomberg senior commodity strategist Mike McGlone.
“In 2020, 260-day volatility dropped to its lowest ever vs. most major asset classes, notably the S&P 500. Add last year’s supply cut, the migration to institutional portfolios, Ethereum futures and the launch of ETFs in Canada and Europe, and we see greater potential for Bitcoin to head toward $100,000 than sustain below $20,000.”
In other trending Bitcoin News today: Bitcoin price slumps $2K as Tesla CEO Elon ‘FUD Puppet’ Musk has brought more stress to the crypto markets by posting another series of cryptocurrency-related tweets on Thursday.
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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/2TylDwK
✔ Bloomberg Predicts $100K Bitcoin: https://bit.ly/3yVxfds
✔ Bloomberg Crypto Report: https://bit.ly/2S8YnoR
✔ Goldman Sachs $100M Into Crypto: https://bit.ly/3fQqCSr
✔ 5-10X Crypto Assets: https://bit.ly/3z2pGSw
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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