Mike McGlone News: While a slight decline continued in the crypto money market, Bitcoin also faced an unexpected decline. When the leading cryptocurrency started testing the $40,000 level, it experienced a 1.2% pullback in the last 24 hours. This pullback has also affected altcoins. However, in the current situation, positive signals came from Bloomberg analyst Mike McGlone to BTC investors.
$100,000 to see
A famous analyst, Mike McGlone, stated that this decline will recover faster than expected. The famous analyst stated that the price of Bitcoin may temporarily remain below $ 40,000, but he expects this situation to change soon. McGlone had previously been right in his statement that Bitcoin would set a new record.
He explained that the expected level of $ 100,000 for the Bitcoin price is not a dream, this level will be seen. Saying that this rise will come together after the price holds above $ 40,000, the analyst thinks that the level of $ 100,000 will be reached by the end of 2021. According to him, Bitcoin has a much higher probability of reaching $100,000 than falling to $20,000.
McGlone is not the only one who has such positive thoughts about the Bitcoin price. Nikolaos Panigirtzoglou, one of the analysts of the US giant bank JPMorgan, is among the names who expressed a positive opinion on this issue. Nikolaos Panigirtzoglou states that it is possible that the price of Bitcoin can exceed $ 100,000 and go up to $ 145,000, but it is also very difficult.
Becomes legal currency
As we have reported, Bitcoin will become the legal currency of a country, witnessing a first in its history. El Salvador’s president, Nayip Bukele, announced that he will send a bill on this issue to the congress. If this development is realized, Bitcoin will take its place alongside fiat currencies. This could be a turning point for the cryptocurrency world.