411: BLOOMBERG ANALYST PREDICTS BITCOIN SHOOTING TO $50K TARGET RESISTANCE AND $1T MARKET CAP IN 2021!!

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

English - December 04, 2020 16:07 - 19 minutes - 9.6 MB - ★★★★ - 537 ratings
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Previous Episode: 410: BITCOIN IS CONDUCTING A 51% ATTACK ON THE WORLD’S FIAT MONEY SUPPLY, SAYS MAX KEISER!!

Next Episode: 412: I WON’T BE SURPRISED IF BITCOIN HITS $200K BY 2022, SAYS FAMILY THAT BET EVERYTHING ON BTC AT $900!!

Bloomberg Intelligence senior commodity strategist Mike McGlone says he expects the big Bitcoin rally to continue in 2021.

In a new December outlook on BTC, McGlone says Bitcoin's new line of resistance in 2021 will likely be at the $50,000 mark.

“Bitcoin will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance, implying about a $1 trillion market cap. The $10,000 mark has shifted to a critical support level after serving as the crypto’s resistance mark since 2017.”

The report says Bitcoin is “far from overheated,” noting its foundation of support may be greater than back in 2015 through 2017 due to increasing institutional investments and a drop in new supply due to this year’s halving.

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