bitcoinHe made a name for himself with his analyzes on Mike McGlone, senior commodity analyst at Bloombergmade new statements about BTC.
BTC’Mike McGlone, who stated that he was cautious in his rise against Bitcoin, said in an interview with Scott Melker yesterday that he is preparing for the strong performance of Bitcoin in 2024.
in 2024 To the halving event in Bitcoin The famous analyst, who attracted attention, argued that a number of other fundamental developments besides halving will increase the price of BTC in 2024.
Pointing out that the halving event, which is seen every four years, has historically coincided with bull markets, the Bloomberg analyst continued his words as follows:
“I look forward to the hlaving event in 2024. Historically, halving in BTC has always coincided with bull markets.
The important question here will be what will stop this strong trend of BTC. But it seems that smart investors and institutional investors all over the planet are realizing that they need a piece of this asset (Bitcoin) every day.”
“I Will Watch The S&P 500 For The Performance Of Bitcoin!”
Noting that Bitcoin has not yet risen in the short term, McGlone bitcoin as a reliable measure of the volatility of risky assets such as of the S&P 500 (SPX) He said he was looking forward to seeing his performance.
“The current picture and trajectory shows that Bitcoin has become a more global digital reserve asset and potentially a store of value as the volatility in the stock market is high.
The key here is, let’s say the S&P 500 makes a new low and heads towards the 3,000 level.
We’ll see how Bitcoin reacts to that. In that case, it would be great if BTC doesn’t drop below $20,000. But we’ll have to wait and see what happens.
I don’t know what will happen either. In the long run, if we get through this period, there will be a more important signal that Bitcoin will rise to $ 100,000.
I’m way too pessimistic about the stock market. To me, the number one benchmark for risky assets in the world is the S&P 500. I am still too bear to be bullish on Bitcoin.”
*Not investment advice.
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