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