Bitcoin is still in a consolidating bull market, shows the 2020 prediction of Mike McGlone, senior commodity strategist at Bloomberg Intelligence.
Bitcoin Evaded the Worst Scenario of Fast Slide, So Far
The behavior of BTC has been erratic in the last months of 2019, leading to even more erratic predictions for the next year. But the overall bullish trend is still valid in the long-term, McGlone commented on social media. And prices may be closer to $10,000 than to a low of $5,000.
Bitcoin in 2020: $10,000 Appears to Be More Likely Than $5,000 —#Bitcoin should continue to advance in a consolidating bull market, in our view, with maturation of the first-born crypto in the next decade the primary distinction vs. the current one. pic.twitter.com/JxEAhArwTf
— Mike McGlone (@mikemcglone11) December 19, 2019
The behavior of bitcoin will mature in its second decade, but there are enough bullish attitudes to push up the coin. The price of $10,000 is not that unusual for bitcoin, and the coin has achieved periods of significant…