592: ‘DISCOUNTED’ BITCOIN MORE LIKELY TO HIT $100K THAN $20K IN 2021, SAYS BLOOMBERG ANALYST!!
Despite a massive drawdown in May, the Bitcoin (BTC) bull market appears to be intact, with a $100,000 price target more likely than a retrace to $20,000, according to Bloomberg senior commodity strategist Mike McGlone.
“In 2020, 260-day volatility dropped to its lowest ever vs. most major asset classes, notably the S&P 500. Add last year's supply cut, the migration to institutional portfolios, Ethereum futures and the launch of ETFs in Canada and Europe, and we see greater potential for Bitcoin to head toward $100,000 than sustain below $20,000.”
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