January 23, 2022

Mike McGlone: ​​"Bitcoin prepares to jump to $ 70,000"

Mike McGlone: ​​"Bitcoin prepares to jump to $ 70,000"

Bloomberg Intelligence senior strategist Mike McGlone believes Bitcoin is heading towards $ 70,000.

During The Tape podcast, the analyst notedlower prices for commodities, in particular for oil. The cryptocurrency market, in his opinion, on the contrary, is quite stable and is preparing for growth. The addition of 64% to the MTC price is not yet the limit.

A pullback to $ 45,000 and below would signal bitcoin weakness, but this is unlikely.

McGlone reaffirmed his belief that the $ 100,000 price tag for Bitcoin remains a viable target.

With regard to the altcoin market, the analyst is notoptimistic. In his opinion, only bitcoin, ether and stablecoins are of value. All other coins serve speculative purposes and will soon leave the market, including mom tokens.

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