Chief commodity strategist of Bloomberg, Mike McGlone shares in a Tweet how bitcoin will potentially reach $100,000 price level.
“Bitcoin potentially to hit $100,000”
Mike McGlone stated that Bitcoin is likely to make a “significant advance in 2021,” and will touch the $100,000 price mark.
He judges that this move will follow past bitcoin trading trends. For instance, The move will be geared by its declining supply and mainstream adoption.
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Mike McGlone in a previous tweet this year reveals U.S. regulation is unlikely to hinder Bitcoin’s bullish run.
Earlier, McGlone notes that bitcoin deflation program is an edge against constant tapering conducted by the U.S. government and other countries: the U.K., European Union, etc.
Whopping 178,000 BTC Moved from crypto exchanges
Arcane Research platform reveals that 178,000 Bitcoins is moving from crypto trading venues resulting to $8.565.627 at the current exchange rate.
“Bitcoin exchange balance has dropped to levels not seen since August 2018. Outflows have been especially high during the last two months, with 178,000 BTC moved from exchanges since July 27th.” – Arcane Research
Bitcoin Price Heads For Golden Cross
The Bitcoin Price Heads For Golden cross, seeing a 50-day moving average is almost passing its 200-day moving average to the upside.
Heads Up!, Bitcoin price heads for golden cross on the daily chart! A golden cross is when the 50-day moving average passes the 200-day moving average to the upside.
While, the technical indicator represents an asset’s momentum and recent price trends.
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However, it is particularly monitored and anticipated by traders and large capital allocators in global financial system.
Meanwhile, The anticipated Bitcoin Heading for Golden cross is encouraging more adoption for bitcoin and also the momentum-driven traders believes its another bitcoin run-up.
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