Bitcoin (BTC) still gets criticized for being too volatile, but one Bloomberg analyst believes that it conversely is becoming a "risk-off" choice for investors. In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency. $400,000 BTC would "rhyme" with history McGlone uploaded a chart of the BTC/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use. "Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a …
Bitcoin (BTC) has officially beaten a new record as BTC/USD trades above $10,000 for 100 days, and major gains should come next. As voting in the United States’ presidential election ended on Nov. 3, Bitcoin saw a landmark moment of its own — 100 days straight trading in five figures. Bitcoin sees record stretch above $10,000 The achievement is not just impressive as a record for $10,000-plus prices. According to previous data, once Bitcoin trades above these significant price levels for 100 days, BTC/USD swiftly increases by an order of magnitude. As Cointelegraph reported last week, the length of time …
Bitcoin (BTC) can deliver 100% returns to investors in 2020 and may rise significantly in the five months until May’s block reward halving, a new report claims. In its forthcoming 2020 Crypto Outlook, market research firm Fundstrat Global Advisors said it believed that the halving was not yet “priced into” the Bitcoin price. Fundstrat expects over 100% BTC gains The report is currently only available to the firm’s clients, with key findings uploaded to Twitter by co-founder Tom Lee on Jan 10. “For 2020, we see several positive convergences that enhance the use case and also the economic model for …
Bitcoin (BTC) demand has been in a “bear market” for a whole year, but a surge is most likely what will spark a new price run up. That’s according to prominent economics analyst Lyn Alden, who in a Twitter debate this week bet on demand snowballing and lifting BTC price action. Back: Watch supply & demand for BTC price cues Responding to a survey by stock-to-flow model creator PlanB, Alden said that a demand transformation is more likely to cause a BTC price boom than multiple other events favored by bulls. These include the United States approving a spot price-based …
Bitcoin (BTC) will top $100,000 next year but a record-breaking bear market will follow, a popular trader believes. In a Twitter discussion on Oct. 22, Credible Crypto endorsed a theory that Bitcoin’s next halving will also see macro lows of just $10,000. BTC bulls need only wait a year for $100,000 With consensus calling for Q4 2022 to match the end of the 2018 Bitcoin bear market, few are in the mood to call a trend change. While a bold prediction from LookIntoBitcoin creator Philip Swift recently gave the current bear market just months to live, most commentators continue to …