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Bitcoin Will Continue To Rally, Bloomberg Analyst Mike McGlone Says
Summary: Bitcoin seems to have slowed down between $17,000 and $18,500 after weeks of its price rallying. The rally comes as gold has broke all-time price highs at $2,000 per ounce before its value leveled off and consolidated. Bloomberg Intelligence strategist Mike McGlone said during a recent interview with Bloomberg that he believes the same thing could happen ...
Bitcoin seems to have slowed down between $17,000 and $18,500 after weeks of its price rallying.
The rally comes as gold has broke all-time price highs at $2,000 per ounce before its value leveled off and consolidated. Bloomberg Intelligence strategist Mike McGlone said during a recent interview with Bloomberg that he believes the same thing could happen with Bitcoin. He predicted that the $20,000 price level would emerge as an important resistance level.
Bitcoin jumped up to $18,500 on Tuesday before falling close to $17,200, data from coinmarketcap shows. McGlone restated the popular thinking that Bitcoin will emerge as a sort of digital gold, adding that the currency's decline in volatility this year will aid its case as a safe haven asset.
By Emily Mason
Tags: Bitcoin,BTC,Cryptocurrency Analyst,Mike McGlone
Link: Bitcoin Will Continue To Rally, Bloomberg Analyst Mike McGlone Says [Copy]
