Bloomberg Analyst: $400k Bitcoin Price This Cycle

With the Bitcoin price rhyming with its historical patterns, we could see BTC reach $400k this cycle according to a senior analyst at Bloomberg.

Mike McGlone, the senior commodity strategist at Bloomberg Intelligence tweeted his observation saying Bitcoin was maturing and on its way to becoming a ‘risk-off reserve asset’.

Bitcoin is ‘well on its way to becoming a global digital reserve asset,’ claims McGlone. ‘A maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view.’

A big leap indeed from the ‘risky asset’ of how institutional investors viewed Bitcoin only this time last year. Read More

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