883: BITCOIN COULD DROP TO THIS KEY SUPPORT LEVEL BEFORE EXPLODING BY OVER 230%, SAYS BLOOMBERG ANALYST!!

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3.6 • 626 Ratings

🗓️ 25 March 2022

⏱️ 20 minutes

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Summary

Senior Bloomberg strategist Mike McGlone believes that Bitcoin (BTC) could crash before hitting a six-figure price in the coming months. In a new video interview, McGlone says that the flagship crypto is likely to fall to a key support level of $30,000 before it rallies to a price of $100,000 per coin, a gain of 230%. “If you buy it [Bitcoin] at around $41,000, I think, maybe in less than a year, you should expect to go around $100,000. But at these levels right now, we might easily see $30,000 first. And I fully expect that’s kind of the risk-reward because $30,000 has been the key support.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Oh, that's my prime delivery.
0:01.6	What, already?
0:02.6	Only one thing can match the buzz of Prime's fast delivery.
0:06.2	And that's the buzz of Prime's entertainment.
0:09.0	What are we watching?
0:09.7	Heads of state, that new action comedy with Idris Elbert as the Prime Minister,
0:13.3	John Sina as the president, and Prianka Chopra Jonas, as their only hope.
0:17.0	It looks like a blast.
0:18.0	From fast delivery to explosive entertainment, it's on Prime.
0:22.5	For only 899 a month, join now. Content includes limited ads, subscription or to renews. For more
0:27.7	information, go to Amazon.com.com. U.K. slash prime. In today's show, Bitcoin hits $44,000,
0:32.3	but traders want to see a few daily closes here before move higher. And as crypto analysts
0:37.0	are at capital shares,
0:38.3	Bitcoin is breaking out from a weekly ascending triangle, but for Bitcoin to confirm this breakout,
0:43.1	Bitcoin needs to flip the ascending triangle top and to support. Upside wicks beyond this
0:47.3	ascending triangle top have happened before. And as Sheldon, the sniper shares, Bitcoin
0:51.6	on its way to the big zone. Forty-six thousand is a very
0:55.2	important zone for the bulls to break. I expect short-term pullback in the zone, but a break of this
1:00.2	zone in the next few days, market definitely showing good strength. And even Bloomberg analysts
1:05.2	are bullish, as they share here. Bitcoin price chart shows momentum building, with the bulls
1:09.9	pointing at a potential break to $50,450, and then 54K.
1:15.1	And this just in breaking news, the Luna Foundation buys an additional $2,900 more Bitcoin worth $128 million to back their U.S.T stable coin.
	...

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