Bloomberg’s chief commodity strategist, Mike McGlone, believes that while BTC is still targeting $100,000, 2021 shows numerous signals for Bitcoin to move forward strongly.
“$100,000 In 2021 Is Less By Bitcoin Standards”
McGlone took to Twitter to share his views on Bitcoin, saying that the trend is upwards and that Bitcoin is heading towards $100,000 instead of $20,000.
Bloomberg’s commodities expert noted that 2021 shows many of the typical signals for Bitcoin to move forward strongly. The analyst described the drop towards the $30,000 level as “a cut in the bull market.”
Among these factors is the continued increase in Bitcoin demand and adoption. Both accelerated after the May 2020 halving, which took place shortly after Black Thursday. The caption of its chart says that $100,000 in 2021 is insufficient by Bitcoin standards.
https://twitter. com/mikemcglone11/status/1404117977939783686
In a recent Bloomberg report where Bitcoin and Ethereum were widely discussed, McGlone stated that the leading cryptocurrency will likely continue to rise to $100,000. The expert also tweeted that on June 9, Bitcoin is more likely to rise to the $40,000 level rather than drop to $20,000.
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