Bloomberg Analyst in Bitcoin (BTC) bullish target of 13,000 USD?


Mike McGlone, an Analyst of Bloomberg, sees the Bitcoin in the near future at US $ 13,000. The currently low level of volatility should be an indication of an imminent upward trend. However, this does not apply if the most popular crypto-currency slips below $ 6,500.

Talk to the technical pattern for a Bitcoin-Hype?

For McGlone, there are two indicators that speak for a Bitcoin Run. The first is the decline in volatility and the other is the technical pattern. According to bullish, the statements of the Analysts to fall out. The Online Magazine NewsBTC quoted him as saying on 26. June as follows: “Bitcoin is [einen] The outbreak of the set, and experiences a resistance of 13,000 US dollars.“

With regard to the technical analysis, McGlone is based on the Bollinger bands. This shows that the Bitcoin will stay in a price range, which leads to the lowest price fluctuations in the history of the oldest crypto-currency. Furthermore, the decreasing of volatility for McGlone, a clear indication that Bitcoin fits in with his role as a digital Version of Gold.

The Bitcoin creates the upward trend?

The Online Magazine Cointelegraph quoted the analysts: “Our graph shows that the sliding end of average for the last 260 days (260-day MA) is on the upswing and that the Bollinger bands are about the high for the year of 2019 and the previous year correspond to the depth of 2020. As soon as Bitcoin can break out of his price range, a recovery to resistance at US $ 13,000, probably, during a downturn under the tape at 6,500 US dollars would bring the current up trend is in danger.“

At Bloomberg, even the mood in relation to the Bitcoin is still risky. The investment magazine predicted that the most popular digital currency could still rise this year to $ 20,000 or even 28,000 US dollars.

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Saurabh Singla
Saurabh Singla is a former Mechanical Engineer turned digital marketer. He has been in the digital marketing industry for over 6 years and has worked with clients across different sectors including FanFare, BitMachina, Bayslope amongst others. Saurabh is also an Author and has written over 30 websites for his clients including INC42, Yourstory etc. After founding CaphIQ in 2020, he is helping businesses and Personalities for their Personal Branding and online visibility.

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