Bloomberg Analyst: Bitcoin Is A ‘Wild Card’ Set To Outperform

  • Senior commodity analyst for Bloomberg expects bitcoin to bottom around $20,000.
  • The Bloomberg Crypto Outlook Report explains changes in the Fed’s tight monetary policy can result in rising prices for bitcoin.
  • The report cites bitcoin’s dwindling supply as the reason for its likely increase in value over time.

Mike McGlone, a senior commodity strategist at Bloomberg, shared Bloomberg’s Crypto Outlook report on LinkedIn discussing bitcoin’s next bull run as it relates to the broader economy.

“Bitcoin is at a discount within an elongated bull market,” reads the report.

Bell Media, stating:

reports have suggested will begin to happen early 2023.

“I fully expect bitcoin to bottom out maybe around $20,000 or maybe a bit lower like it did in 2018 and like it did in 2013,” the strategist explained in the interview.