Bloomberg Intelligence Senior Commodity Strategist Mike McGlone has always been bullish on Bitcoin and has now referred to the cryptocurrency as a “caged bull.” McGlone believes that Bitcoin will spike higher, breaking out of the $60,000 price range. According to the Senior Commodity Strategist at Bloomberg Intelligence, Mike McGlone, Bitcoin has a long way to go before it plateaus.
Delivering his most recent bullish prediction on Bitcoin, McGlone said in a tweet posted on the 12th of February:
“Technical Outlook: Still in Price-Discovery Mode, Bitcoin Plateau Appears Distant — Bitcoin supply is declining and demand is rising, leading us to expect continued price appreciation and the establishment of a higher plateau as the crypto matures.”
Also, McGlone referred to Bitcoin’s post-halving price action as “tame.” Similar to McGlone’s opinion, Ecoinometrics explained post-having actions in a tweet:
“Bitcoin after the Halving – Apr.12, 2021. 355 days after the 3rd halving – BTC at $60,091. Faster than 2017. Slower than 2013. But the exceptional growth pattern is the same.”
McGlone is known as a Bitcoin supporter and has always been bullish on the digital asset. Formerly, the Bitcoin bull had predicted that Bitcoin would top $80,000 in the second quarter. In a Bloomberg Intelligence report published on the 6th of April, McGlone noted that the increasing Bitcoin adoption “is likely to accelerate.”
Bitcoin is currently trading at $60,242.30, a 0.68% gain over its previous close. In the last 24 hours, the king coin has traded close to its record high of $61,700 at $61,253.
Image Credits: Pixabay
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