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Mike McGlone, a senior commodity strategist for Bloomberg Intelligence, believes the Bitcoin price could shoot past the price of an ounce of gold – by around 100 times.
In the July 2021 edition of the monthly cryptocurrency newsletter ‘Bloomberg Crypto Outlook’, McGlone says that based on technical analysis, BTC could keep appreciating relative to the coveted metal.
“Bitcoin may be more than a digital version of gold. A potential path for the Bitcoin price is to stabilize around 100x an ounce of gold and for volatility to resume its downward trajectory, if past patterns repeat.”
In other trending Bitcoin News today: “Top Analyst Predicts Parabolic Bitcoin Rally, Says Bull Market Gearing Up for Final Phase”
A prominent crypto strategist and trader is predicting a parabolic rise in Bitcoin’s value that would make the rise to the recent all-time high of $64,000 a blip in the chart.
Jack Sparrow, the crypto analyst who accurately predicted BTC’s rise to $19,000 last year, tells his 203,600 followers that he’s positioning himself to capture the possibility of a massive Bitcoin ascent to $380,000.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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