Bloomberg Analyst Is Very Bullish On Bitcoin

According to the latest reports it seems that Bloomberg analyst is very bullish on Bitcoin. Check out the latest reports below.

Senior macro strategist at Bloomberg Intelligence Mike McGlone is expressing optimism on Bitcoin (BTC) and other digital assets as Bitcoin engages in seesaw price movements.

McGlone says in a new Stansberry Research interview that he’s “very bullish” on Bitcoin and other assets in the Bloomberg Galaxy Crypto Index. This is happening as BTC increasingly becomes a “global digital collateral.”

On the other hand, the Bloomberg strategist says the macro landscape and the stock market could impact the growth potential of digital assets.

“Bitcoin, Ethereum, the Bloomberg Galaxy Crypto Index, I’m fully very bullish in the big picture, but very concerned about the ebbing tide to what I see in potentially a bear market in stocks.”

He continued and said the following:

“So I view Bitcoin as global digital collateral in the world going that way, and every single risk manager in the planet, every day that goes by, they all know ‘I have to have a piece of this’.”

McGlone also said that in the near term, he’s concerned that Bitcoin and other crypto assets could plummet if the stock market turns bearish.

“It’s just I’m still worried about a rug pull in the stock market. I mean, I fully expect a 20% drop in the S&P 500, and if I expect that, I expect crypto assets to suffer.”

British multinational bank Standard Chartered is expressing bullish sentiment on Bitcoin (BTC), arguing that the crypto bear market has ended.

According to multiple reports, Standard Chartered analyst Geoff Kendrick said in a research note that has been just issued earlier this week that Bitcoin is destined to appreciate by over 250% from current levels to hit a new all-time high of $100,000.

Kendrick made sure to state the fact that Bitcoin could hit a new all-time high in under two years.

“We see potential for Bitcoin (BTC) to reach the USD 100,000 level by end-2024, as we believe the much-touted ‘crypto winter’ is finally over.”