Bloomberg analyst Mike McGlone has published a new report on cryptocurrencies. It indicates that at the moment, bitcoin is forming its stable “floor”. After that, the cryptocurrency will rush to the “ceiling”, as a result of which it will rise in price significantly.
He considers the upper limit for bitcoin to be $100,000 per token. After November 2021, when bitcoin hit an all-time high and traded above $69,000, it has been falling. Since then, the value of the cryptocurrency has decreased by 38%. Over the past week, it began to grow again and has risen in price by 13%. On February 7, Bitcoin was already trading at $43,000. However, Mike McGlone’s report does not indicate when a rise to $100,000 should be expected.
According to well-known trader Justin Bennet , if the price of bitcoin again exceeds $50,000, then the cryptocurrency may enter the so-called rally phase, when its value begins to skyrocket.