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21 June 2021

Commodity Strategist Mike McGlone Says $40K BTC Target 'More Likely' Than $20K – Markets and Prices Bitcoin News

Commodity Strategist Mike McGlone Says $40K BTC Target 'More Likely' Than $20K – Markets and Prices Bitcoin News


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Commodity Strategist Mike McGlone Says $40K BTC Target 'More Likely' Than $20K – Markets and Prices Bitcoin News.

Bloomberg Intelligence senior commodity strategist Mike McGlone believes bitcoin is “more likely” headed for $40K instead of $20K after discussing the possibility of capitulation in a recent tweet.

Stephen Kelso, head of markets at ITI Capital explained in a note to Bitcoin.com News that there have been reports that suggest BTC could drop to this low point.

Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, explained his view of the situation on Twitter.

In a couple of tweets prior to McGlone’s assessment of BTC markets on Wednesday, McGlone also said that the Bitcoin 2021 conference in Miami saw “Woodstock-like” bitcoin adoption?

“The June 3-5 Bitcoin 2021 conference further validated our view that Bitcoin has transitioned to a global digital-reserve asset and away from being a speculative crypto,” McGlone remarked on Twitter.

The Bloomberg senior commodity strategist has also tweeted about gold’s price rise in recent times and noted that gold’s previous correction looks complete.

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