Bloomberg Intelligence senior commodity analyst, Mike McGlone, believes a “warm spell” is coming in terms of bitcoin markets.
Commodity Analyst Mike McGlone Suggests 'Bitcoin Appears Poised to Resume Its Inclination to Outperform'
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.”
Mike McGlone Believes a Crypto ‘Warm Spell’ Is in the Cards, Suggests Bitcoin Will Resume Its Climb in Value When the ‘Fed Pivots to Easing’ Mike McGlone is convinced bitcoin has some healing ahead as he recently tweeted about a “warm spell” on Monday. McGlone’s comment details that “what was resistance for bitcoin vs. Nasdaq 100 stock index at 1:1 may be transitioning to support.” McGlone also shared a chart that he says indicates the “crypto price escaping confinement of the stock index level in 4Q20, on the back of unprecedented fiscal and monetary stimulus.
Next year may be about how much lower global economies fall. Risk vs. reward appears to argue against under-allocating or estimating the propensity for bitcoin to continue its trajectory toward becoming digital collateral.
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