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$1T market cap is ‘next big resistance’ for Bitcoin — Bloomberg analyst

Published 11/16/2020, 09:00 AM
Updated 11/16/2020, 11:00 AM
$1T market cap is ‘next big resistance’ for Bitcoin — Bloomberg analyst
BTC/USD
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BTC/USD
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Bitcoin (BTC) hitting its all-time highs of $20,000 again is not the end, but the start of its explosion to a $1 trillion asset, a senior Bloomberg analyst says.

In a tweet on Nov. 16, as BTC/USD reclaimed $16,000, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, delivered a fresh bullish forecast for the largest cryptocurrency.

Bitcoin market cap vs. price historical chart. Source: Mike McGlone/ Twitter
Peter Brandt’s highlighted Bitcoin bull run characteristics chart. Source: Peter Brandt/ Twitter

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