1051: BLOOMBERG ANALYST DOUBLES DOWN ON BIG $100,000 BITCOIN PREDICTION - HERE’S HIS TIMELINE!!

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3.6 • 626 Ratings

🗓️ 20 September 2022

⏱️ 20 minutes

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Summary

Bloomberg’s lead commodity analyst Mike McGlone is doubling down on his forecast for a six-figure Bitcoin price tag. In a new interview with Kitco News, crypto expert McGlone says that adoption and demand for Bitcoin appear to be gaining enough steam to push BTC to $100,000 in less than three years. “Here’s the key thing about Bitcoin. To me, it’s a matter of time before it gets to $100,000. The key fact is by code, the supply is going down. You can’t change it. Adoption and demand are increasing. Unless you expect that to reverse – which I don’t – I think it’s going to accelerate. Every sign I see it’s accelerating. It will continue appreciating. It’s just a matter of time." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In today's show, Bitcoin analysts give three reasons why the Bitcoin price below $20,000 may be a bear trap.
0:06.8	As pointed out here, on the daily chart, a bullish hammer candle was printed, which may bring us a reversal.
0:12.5	This indicates a strong price rejection below the candle.
0:15.7	And as pointed out here, Bitcoin pie cycle bottom in reversal.
0:19.3	Reversal might be closer than we think Bitcoin is entering the final bullish phase of the Wycoff cycle. And as rec capital points out here in 2015, Bitcoin bottom 547 days before the halving. In 2018, Bitcoin bottom 517 days before the having. Bitcoin is going to bottom 517 to 547 days before the upcoming April 2024 having.
0:41.6	Then the bottom will occur in quarter four of this year.
0:44.4	And as on-chain analysts will inclemente shares here, despite a 60% decline in price over the same time period,
0:50.3	65% of Bitcoin supply has not moved in at least a year.
0:53.9	Also in today's show, $160 million stolen from
0:57.2	Crypto Market Maker. Winter Mute, their CEO tweeted here, we have been hacked for about $160 million
1:02.7	in our defy operations. C-Fi and OTC operations are not affected. Also in today's show,
1:09.1	Ethereum co-founder of Vitalik Boutarin shares his vision for three-layer protocols, quoting him show, Ethereum co-founder Vitalik Buterin shares his vision for
1:12.1	three-layer protocols, quoting him here, a three-layer scaling architecture that consists of stacking
1:17.0	the same scaling scheme on top of itself generally does not work well. Roll-ups on top of roll-ups
1:22.5	where the two layers of roll-ups use the same technology certainly do not also in today's show top
1:28.0	crypto analyst unveils his bitcoin bottom scenario and updates outlook on ethereum and xrp quitting big
1:33.7	sheds here bitcoin daily both thesis would be a w forming on the right thrust of a larger w minor
1:39.3	breakout 22,500 major 25,500 and also warns us i I think if we w, it's the lower low, like $16,000.
1:48.8	Also in today's show, Bloomberg analyst Mike McClone doubles down on his big $100,000,
1:53.8	Bitcoin price prediction and shares his timeline, quoting him here from a recent interview with
1:57.9	Kitko News.
1:58.8	Here's the key thing about Bitcoin.
	...

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