Mike McGlone Says Bitcoin Would Rise as Demand Surges
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Mike McGlone Says Bitcoin Would Rise as Demand Surges

April 13, 2021      Sahaj Sharma

Mike McGlone, a Chief Bloomberg Strategist has recently stated that he expects Bitcoin to create a higher price plateau as demand for BTC keeps growing. The chief strategist of Bloomberg has said that he believes the oldest cryptocurrency is still in a price discovery mode and has expectations that it will continue to appreciate.

Mike McGlone From Bloomberg Says Bitcoin Will Rise

The chief strategist has taken to Twitter to share his views on the likelihood of Bitcoin and has addressed the circulating supply of the oldest cryptocurrency. He reminded the crypto community that the circulating supply of Bitcoin is falling and the demand for BTC is growing.

The downfall in the global economy forced by the coronavirus pandemic has pushed several financial institutions and retail investors to appreciate BTC this year as a hedge against the inflation that is expected in the near future.

The falling supply and the increase in demand have lead Mike McGlone to believe that the price of BTC will continue to surge over time.

In addition to this, he revealed that in the near future, a higher BTC plateau will be created as the crypto sphere grows to be stronger and mature.

As revealed by Mike at the beginning of March, it was mentioned that he expected BTC to rise to the level of $100,000 keeping in mind that the digital asset is all set to replace gold as a store of value.

BTC Struggling to Cross Its All-Time High

BTC struggled a lot today to cross its all-time high that the digital asset managed to reach on March 13. The huge rally is the direct effect of the introduction of the Coinbase Exchange to the NASDAQ and is expected to be done on April 14, Wednesday.

Coinbase Exchange Platform, which is lead by Brian Armstrong is going to be the first crypto company to be listed. Following the lead of Coibase, Kraken exchange based in the United States will be the second one on the list.

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#Bitcoin #Bloomberg #Mike McGlone
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.