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Bitcoin price predictions have been a hot topic for a while now. Bloomberg Analyst, Mike McGlone believes that the BTC price hitting $100,000 is tied to the asset following Ethereum. This came in the monthly cryptocurrency newsletter sent out by Bloomberg Crypto Outlook.
In the newsletter, McGlone highlights the potential for Bitcoin. Stating that the $100,000 mark is still pretty tame for the flagship cryptocurrency. “Based on its history, a bottom line for BTC in 2021 is that the price advance to May 24 is a round error,” McGlone said. “The 2020 halving came amid unprecedented global fiscal and monetary stimulus, along with institutions tilting toward Bitcoin allocations.”
In other trending Bitcoin News today: Analyst Who Accurately Predicted Bitcoin’s 50% Fall Updates Crypto Forecast!
Chief investment officer and founder of Guggenheim Partners Scott Minerd, who notably called Bitcoin’s 50% collapse, suggests that the Bitcoin correction might not be over.
“But when we look at the history of crypto, and we look at where we are, I mean, I really do believe this is probably a crash. And, you know, a crash would mean we would be down 70% to 80%, which, let’s just say, that’s between $10,000 and $15,000.”
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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.
Show Notes / Resources:
Bloomberg Analyst Provides Blueprint Of Bitcoin Path To $100,000
Analyst Who Accurately Predicted Bitcoin’s 50% Fall Updates Crypto Forecast