Senior Bloomberg analyst Mike McGlone claimed that Bitcoin (BTC) is still in a bull market and its current low price is due to multiple specific reasons.
Mike McGloneBitcoin is still bull market He stated that it is in the market and its acceptance by the market has increased. In the last 1 year approximately 60% In response to the loss of confidence in the market due to the damages caused by the depreciation, the bull market in Bitcoin it’s not over yet published a report expressing
McGlone September 6 on his social media account in his postdue to global inflation problems. of commodities and that global GDP fell. The high rate of interest rate hike policies of the US Federal Reserve as part of the fight against inflation. from rising energy prices Despite this, McGlone states that Bitcoin is due to other assets. more strong He said he took a stand. Analyst says bull market continues their viewsBitcoin one hundred ratio to daily average 0.52 levels and previously 2015 and 2018 at the end of their fall 0.52 around the level similar He based it on his presence in price movements and described the price at which Bitcoin is currently being traded as “discounted”.
Ethereum’s Price Will Determine Altcoins Performance
McGlone Also, in another recent report, many things can go wrong during the development of new technologies, but Ethereum (ETH) is much more powerful than most of its peers. stable and high stated its performance. The analyst believes that Ethereum may face other difficulties in the development process, but will not hesitate to innovate in the financial markets, and even further the process. to speed up He stated that he believed.
on Ethereum 1,000 dollar support level of 2,000 dollar resistance from the level more permanent McGlone, who thinks it should be 2,000 dollar level of crypto market general course inside an important level He pointed out that it is and will determine the performance of altcoins.
On the other hand, experts consider the Ethereum network. proof of stake (PoS) system that will Merge Due to the update, the market’s interest in Ethereum increased, many investors said in the short term. Ethereum and Ethereum derivatives It states that it has passed. However, analysts medium and long term of bitcoin store of value He thinks he will keep his position.