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Bitcoin Could Follow Nikkei Path to Record High, Says Analyst
5.9.2023
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has predicted that the price of bitcoin could “follow the path of the Nikkei, which reached a 33-year high in June.” He highlighted that the largest crypto “has had a close directional relationship with the Nikkei 225.” Bitcoin’s...
Market Strategist Draws Parallels Between Bitcoin and 1930 Stock Market Crash
22.8.2023
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has explained that bitcoin appears similar to the stock market in 1930. At that time, elevated equity prices led to the stock market losing almost 90%. The crash of 1929, also called the Great Crash, contributed to the Great...
Bitcoin Faces Increased Risk Relative to Stocks: Commodity Strategist Mike McGlone Warns of Challenges
7.8.2023
Seasoned commodity strategist Mike McGlone says bitcoin is now riskier relative to stocks, while he further warned that economic downturn pressures may hold silver prices at bay. Bitcoin Volatility Low, Silver Faces Challenges: McGlone In a client communication dated August 2, 2023, the prominent...
Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023
28.4.2023
A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve...
Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’
21.4.2023
Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity...
Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone
23.3.2023
Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, bitcoin’s volatility is more likely...
Commodity Strategist Mike McGlone Predicts a Recession as Top Catalyst for Gold’s Rise Above $2,000
24.2.2023
This week, Bloomberg Intelligence Senior Macro Strategist Mike McGlone shared his March outlook and noted that the “top catalyst” that could push gold above the $2,000-per-ounce range is a recession. McGlone further explained in an update about bitcoin and the Nasdaq that a...
Commodity Strategist Mike McGlone Says Cryptocurrencies May Be Facing Their First Real Recession
9.2.2023
Bloomberg Intelligence’s senior commodity strategist Mike McGlone has warned that “cryptos may be facing their first real recession.” The Federal Reserve tightening despite the risk of a recession “could be a primary headwind for most risk assets, notably cryptos,”...
Commodity Analyst Mike McGlone Suggests ‘Bitcoin Appears Poised to Resume Its Inclination to Outperform’
19.12.2022
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...
Commodity Strategist Mike McGlone Says BTC, ETH Appear to Have ‘Completed the Bulk of Their Drawdown’
9.11.2022
Bloomberg Intelligence senior commodity analyst, Mike McGlone, recently wrote that “cryptos could regain [an] edge” when he discussed bitcoin and ethereum in a report published on Bloomberg’s terminal on Nov. 3, 2022. McGlone detailed that volatility in bitcoin and ethereum...
Investment Strategist Discusses Bitcoin ‘Entering Unstoppable Maturation Stage’ — Says Price Should Continue to Rise
23.10.2022
Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” In addition, the cryptocurrency may also “be entering unstoppable maturation stage,” the strategist added, expecting the price...
Mike McGlone Says Gold Price Is ‘Firming’ — Commodity Strategist Insists BTC, ETH Will ‘Outperform Most Major Assets’
6.10.2022
Over the last two days, Bloomberg Intelligence commodity analyst Mike McGlone published the firm’s commodity and crypto outlook reports, and McGlone’s latest analysis details that the price of gold could resume its rally after a foundation similar to 1999 is constructed. Moreover,...
Bitcoin's $50K resistance to become support in Q4 — Bloomberg commodity strategist
6.10.2021
BTC price surged toward $55,000 on Wednesday even as traditional risk assets such as stocks tumbled and the dollar rose
Commodity strategist predicts Bitcoin ETF could get the nod in US next month
22.9.2021
A Bitcoin ETF could be approved by U.S. regulators by October. according to Bloomberg Intelligence Commodity Strategist Mike McGlone
Analyst Predicts Crypto Bull Market: $100K Bitcoin, $5K Ethereum Is Path of Least Resistance
6.9.2021
Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of least resistance. He expects the crypto market to thrive in a “refreshed bull market.” Cryptocurrencies Poised to Thrive, Bull...
Strategist Mike McGlone Believes Bitcoin Can Jump to $60K Resistance vs. $20K Support
25.7.2021
The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has been long on bitcoin for a while now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week the strategist’s analysis notes that bitcoin prices will likely revert toward the $60K...
Commodity Strategist Mike McGlone Says $40K BTC Target ‘More Likely’ Than $20K
9.6.2021
Bloomberg Intelligence senior commodity strategist Mike McGlone believes bitcoin is “more likely” headed for $40K instead of $20K after discussing the possibility of capitulation in a recent tweet. McGlone’s opinion follows a number of predictions that say bitcoin could drop...