BLOOMBERG ANALYST: BITCOIN IS “TINY” NOW, BUT “PRICE DISCOVERY STAGE” IS HERE

BLOOMBERG ANALYST: BITCOIN IS “TINY” NOW, BUT “PRICE DISCOVERY STAGE” IS HERE

Gate Trade News Saturday, November 21, 2020 13 0

Bitcoin is now worth nearly a full $15,000 more than it was during March of this year. But the events of Black Thursday and the realization that the world was forever changed, it has created the perfect storm for the cryptocurrency.

 

Now, with new money flooding in from an entirely different wealth class, Bloomberg senior commodities analyst Mike McGlone believes that the cryptocurrency is back in “price discovery stage,” and while the asset’ market cap is “tiny” now, it won’t be that way when the next cycle has completed. 

 

Here’s what this could mean for the next peak, and how it could break all expectations, even with expert predictions reaching as high as hundreds of thousands of dollars.

 

As the years pass and the pre-programmed Bitcoin bubble economics suck in new investors with each new wave, the size of the cryptocurrency’s network and its market cap will continue to grow.