For instance, in a recent interview, Bloomberg Intelligence’s senior commodity strategist Mike McGlone discussed bitcoin sustaining current levels. It only added to the size of Bitcoin’s market whales which will, in turn, push the market to a … McGlone is a leading expert when it comes to bitcoin and the price trends its follows. Mike McGlone: Bitcoin Likely to Hit $170,000 In Two Years . A drop in Grayscale’s Bitcoin Trust (GBTC) premiums could spark a bullish rally to $100,000, says a prominent industry analyst. Mike McGlone is a highly respected, veteran trader and analyst. The recent increase in Bitcoin’s visibility worldwide was also one of the things that helped Mike McGlone arrive at his conclusion. Bitcoin Chart. Spread the love. The market has been different ever since big investors like Tesla joined the crew. In a report published on Tuesday, he writes that the "steepest ever" Grayscale discount could be viewed as a surefire sign that the largest cryptocurrency is gearing up for another leg up if history is any guide. Source: Twitter. His report states that the two most significant factors which are assisting bitcoin’s cause are its set amount of 21 million BTC, and ability growing adoption as a store-or-value asset. Bloomberg Intelligence strategist Mike McGlone expects Bitcoin to march toward $100,000. As shown in the chart, Bitcoin could reach a price of over $400,000 by 2021 considering price behavior in the past. Bitcoin continues to track and massively records absolute points with rapid gains towards a more successful year ahead. McGlone highlights that the Grayscale Bitcoin Trust (GBTC) closed at a 2.7% discount at the end of February. "Old-guard gold appears ready for nap time vs. young bitcoin," said Bloomberg Intelligence senior commodity strategist Mike McGlone. November 25, 2020. McGlone Is Always There When Bitcoin Spikes. Mike McGlone, a senior commodity strategist, revealed in his previously released report that he believes that Bitcoin is way ahead of others in the adoption race and that could continue to rise in 2020. He wanted to point out to March 2017 when Bitcoin backed up to nearly $1,000 on … Cryptocurrency. As the 2017 bull run followed the 2016 Bitcoin halving, Mike McGlone predicts 2021 to yield triple of the previous years. Bitcoin could also be headed for the $100,000 mark by the end of this month, according to Mike McGlone, a Bloomberg analyst. Bitcoin may be in for a $100K bull run next if a classic signal coming from institutions repeats its historical trend. — Mike McGlone (@mikemcglone11) March 4, 2021. Consequently, this will cause Bitcoin to have a better price. Bloomberg’s senior commodity strategist is clear with his big picture outlook for the Bitcoin price, and can’t see anything stopping it rising. Additionally, Bitcoin has a limited supply. McGlone, who previously ascribed a $50,000 plus level for the cryptocurrency, said during a March outlook report that if the Grayscale Bitcoin Trust In a March 4 tweet, a senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated that those seeking clues about what lies next for BTC should look at the Grayscale Bitcoin Trust (GBTC). Mike McGlone: Bitcoin to USD $100k by 2025. Mike McGlone, a senior commodity strategist at Bloomberg Intelligence recently posted a graph showing the BTC/USD annual average price and the Bitcoin Liquid Index. According to a tweet by Bloomberg Intelligence senior commodity strategist Mike McGlone, GBTC’s premium flipped into the negative range following bitcoin… Current levels that the Grayscale Bitcoin Trust ( GBTC ) closed at 2.7. A classic signal coming from institutions repeats its historical trend considering price behavior in chart... 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