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Bloomberg Strategist Updates Outlook on Bitcoin After Price Fall, Says BTC Now Trading at a Deep Discount

Bloomberg senior commodity strategist Mike McGlone says that Bitcoin (BTC) is on the cusp of hitting strong support. In a Tweet, McGlone says that as the flagship cryptocurrency hovers below the 50-week moving average, it is trading at an “extreme discount” relative to its 2018 and 2020 lows. “About 20% below its 50-week moving average, […]

The post Bloomberg Strategist Updates Outlook on Bitcoin After Price Fall, Says BTC Now Trading at a Deep Discount appeared first on The Daily Hodl.

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