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Bloomberg analyst Mike McGlone has given his thoughts on bitcoin believing it will come out ahead

 
Bloomberg analyst Mike McGlone has given his thoughts on bitcoin believing it will come out ahead
Breaking News / Bitcoin / Crypto Market

Quick Take

1 minute read

  • Mike McGlone, a senior analyst at Bloomberg recently put out a tweet giving his thoughts on both Gold and bitcoin. 
  • In the tweet, he shared his thoughts on the two assets highlighting that even though both of these assets have seen a return back to a specific support zone, they will come out ahead in the end. 

Mike McGlone, a senior analyst at Bloomberg recently put out a tweet giving his thoughts on both Gold and bitcoin. In the tweet, he shared his thoughts on the two assets highlighting that even though both of these assets have seen a return back to a specific support zone, they will come out ahead in the end. 

He relates to the fact that the declining equity prices can typically encourage more monitoring fiscal stimulus in the long run.

The senior analyst posted a chart to Twitter showing his thought on both Gold and bitcoin that the $10,000 key resistance level has been a significant resistance test for bitcoin. The leading cryptocurrency has been tested multiple times over the course of this year, especially during the coronavirus pandemic.

It’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

You can see the tweet below.-


It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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