Bloomberg analyst believes that the fall to 10,000 will not shake Bitcoin's position

Bloomberg analyst believes that the fall to 10,000 will not shake Bitcoin's position

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Author: Robert Strickland (crypto-journalist)
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Bloomberg analyst believes that the fall to 10,000 will not shake Bitcoin's position

Bloomberg analyst Mike McGlone believes that the fall to 10,000 will not shake Bitcoin's position


 

The trajectory of Bitcoin's development is now aimed at creating tools characteristic of the traditional market, Mike McGlone emphasized

The collapse of bitcoin to 10 thousand will not significantly shake the position of the first cryptocurrency said the social network x former senior analyst twitter Bloomberg mike mcglone. The expert compared the cryptocurrency and stock markets, citing the example of Amazon shares, whose returns over the past 20 years exceeded 7000, while the growth of bitcoin was many times more since 2011 The cryptocurrency has grown by 26000, if you count at the current rate on August 29 bitcoin price is 26000 according to coingecko bitcoin is comparable to 130 for amazon on a similar basis. The analyst noted that the 100-week correlation between the price of BTC and Amazon securities at around 04 is the highest in the company's history. He also emphasized the importance of the trajectory of the first cryptocurrency's migration into the mainstream.

In August, Pantera Capital predicted that Bitcoin, after halving, would grow to 148k in 2024. The court ruling on the xrp token and the approval of Blackrock's application to create a spot bitcoin-ETF in addition to the halving will create a solid foundation for bitcoin market growth, analysts said.

 

 

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