Even if Bloomberg has not shown for years, especially fond of Bitcoin and other crypto-currencies, it seems the business magazine to have sustainably changed his Position. Because now they speak with Bloomberg that, “the Bitcoin can’t be stopped”. Especially to Bloomberg’s chief Analyst Mike McGlone shows extremely bullish about the future of the oldest crypto-currency.
Is to stop the Bitcoin yet?
The Bitcoin harvesting more and more optimism and more and more companies from various industries to integrate the popular digital currency in their everyday lives.
In a Tweet from the 19. August explained to Bloomberg’s chief Analyst Mike McGlone, why the Bitcoin is a glorious future: “Bloomberg Intelligence Commodity Primer – win, Something Unexpected must happen, in order for the price of #Bitcoin does, what it has done for most of the last decade: the value Of. The demand and Adoption ratios in comparison to the unique feature of the #crypto-Assets, the fixed offer, continues to be favourable.“
Bloomberg Intelligence Commodity Primer – Something unexpected needs to happen for #Bitcoin‘s price to stop doing what it’s been doing for most of the past decade: appreciating. Demand and adoption metrics remain favorable vs. the #crypto asset’s unique attributes of fixed supply. pic.twitter.com/E0wxubOlHF
— Mike McGlone (@mikemcglone11) August 19, 2020
It is little wonder, then, that these boasting words of Bloomberg, just now. Because in the past few weeks the Bitcoin has proven once again that we are dealing with here is an exciting investment object. After a prolonged sideways movement of Bitcoin from finally broke up. After he had tried a few days on the approximately 11,500 U.S.-Dollar brand, get the Coin, then to your between time high for the year of 12,400 dollars.
Bitcoin and Gold
20. August tweeted McGlone on the correlation between Bitcoin and Gold: “The price of #Bitcoin per ounce #Gold, of between 3-9x moved in the last few years, tilting the crypto in the direction of a resumption of the appreciation, if the volatility history says something. The cross-rate of 19. August of 6x is the same as in 2017, but the volatility of bitcoin has decreased in comparison to Gold.“
Stuck between 3-9x over the past few years, the price of #Bitcoin per ounce of #gold tilts the crypto toward resuming appreciation, if volatility history tells us anything. The Aug. 19 cross-rate of 6x is the same as in 2017, yet bitcoin’s volatility has dropped relative to gold pic.twitter.com/CD29iOVXDS
— Mike McGlone (@mikemcglone11) August 20, 2020
It is not clear which follow-up according to McGlone for the crypto-currency. It is clear, however, that the Bitcoin is beating increasingly larger waves. Investors can profit with Bitcoin shares from the current Events.
Image source: Photo by Gastev