ICYMI: according to Bloomberg's Mike McGlone, bullish fundamentals will end Bitcoin and Ethereum range trading $BTC $ETH
In late June 2021, Bitcoin printed a death cross and then went on to mark bottom lows of $28,800. Exactly a month after, Bitcoin recovered momentum, culminating in the printing of a golden cross in mid-September. As a result, Bitcoin reached all-time highs of $69,000 in November 2021.
According to Mike McGlone, in similar circumstances, Bitcoin might be forming a bottom again around $30,000 as the $60,000 resistance fades.the Bloomberg strategist stated, ''The fact that Bitcoin is an up-and-coming asset, with less than $1 trillion market cap vs. about $100 trillion of global equities, that got a bit extended may give the crypto an advantage. Our graphic depicts a bottoming indicator for Bitcoin -- about 30% below its 20-week avg.
Ethereum reaching or possibly surpassing a $20 trillion market capitalization in the next 10 years might bring the price to about $170,000 to $180,000 per coin.
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