Chief strategist for commodities Bloomberg Intelligence Mike McGlone expect an early breakthrough price, the first cryptocurrency to the resistance level at $13 000.
#Bitcoin a Caged Bull Set for Breakout, Eying $13,000 Resistance —
The more disdain from bulls should be for the better, keeping the price tilted upward for the consolidating crypto. Declining Bitcoin volatility reflects maturation toward a digital version of gold. pic.twitter.com/2CqGEx95JS
— Mike McGlone (@mikemcglone11) June 26, 2020
In his opinion, this indicates a bullish set of signals.
«More neglect on the part of the bulls had better be good, keeping the price up for greater consolidation of cryptocurrency,» said he.
McGlone added that reducing the volatility of bitcoin reflects the maturation of the asset to the role of digital gold.
Technical prospects of quotations of commodities, except gold, for the 2nd quarter analyst has rated as bearish.
Except for #gold, the technical outlook for #commodities remains downward, with elevated risks reversion from 2Q bear-market bounces. Negative prices likely bottomed WTI #crudeoil, but the swift recovery to $40 a barrel is more likely to revert to $30 than advance toward $50. pic.twitter.com/2LN2U2jkPQ
— Mike McGlone (@mikemcglone11) June 25, 2020
Previously a strategist at Bloomberg, said about the inevitability of growth in the price of the leading cryptocurrency, which by the end of the year could exceed $20 000.