Senior commodities expert Mike McGlone showed critical support and resistance for Bitcoin in early 2022. Strategist Mike McGlone took to Twitter to outline four reasons behind Bitcoiners’ optimism. Mike McGlone is an analyst famous for having known $10,000, $12,000, and $50,000 in BTC. cryptocoin.com We look at the details.
Bitcoin predictions
Saying that increasing adoption and decreasing supply are important, McGlone shared three charts: the dynamics of the average annual price of Bitcoin (BTC), the Bitcoin Liquid Index (1Q timeframe), and the ratio between the 260-day volatility of the Bitcoin price and the same indicator for the S&P index.
He stated that although Bitcoin (BTC) is still in the development stage as both a technology and a digital asset, it is still increasingly adopted. He also stated that dwindling supply is a net positive factor for BTC prospects. BTC emissions are reduced by 50% every two years. Finally, according to McGlone, Bitcoin (BTC) is showing obvious signs of maturation. More or less, this is illustrated by a decreasing BTC/S&P500 volatility rate. As such, BTC is approaching 2022 in a clear bull market. The Bloomberg strategist outlined two levels to watch: $50,000 support and $100,000 resistance. The analyst is also optimistic about the medium-term prospects of Ethereum, the second cryptocurrency. McGlone attributed the possible Ethereum (ETH) increase to increasing demand, decreasing supply and Ethereum’s role in the digital transformation of the finance segment.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.