Bloomberg Intelligence senior strategist Mike McGlone is bullish on Bitcoin (BTC) as he believes that “something unexpected needs to happen for Bitcoin's price to stop doing what it's been doing for most of the past decade: appreciating.”
However, with the S&P 500 hitting a new all-time high today, traders are booking profits in gold and crypto assets. As U.S. markets surge to new highs, Bitcoin price has corrected sharply in the last two days but this is likely to be a short-term blip in a secular uptrend.