> ## Content Index
> Fetch the complete content index at: https://btcpeers.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Bitcoin is likelier to rise to than to dip, Senior Bloomberg Strategist claims
- URL: https://btcpeers.com/bitcoin-is-likelier-to-rise-to-than-to-dip-senior-bloomberg-strategist-claims-2/
- Published: 2021-07-24T03:53:30.000Z
- Updated: 2023-09-24T15:45:12.000Z
- Author: John Williams
- Tags: News, #saudu, #Import 2025-12-27 14:07

Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, has shared his predictions about the long and short term status of Bitcoin.

He opined that the world’s largest cryptocurrency stands a better chance of reclaiming previous highs in the $60,000 region than receding beyond its current value to $20,000.

> Our [crypto](https://btcpeers.com/what-is-the-best-cryptocurrency-to-invest-in/) analyst @mikemcglone11 says Bitcoin more likely to hit $60k than $20k based on historical price patterns, also says China's rejection of open-source software crypto assets may mark plateau in country's economic ascent 🔥🔥 pic.twitter.com/uVIp7uErxV
> 
> — Eric Balchunas (@EricBalchunas) July 23, 2021

He also envisions Bitcoin breaking the $100,000 benchmark by 2025.

While comparing Bitcoin with other stores of value, McGlone expressed his belief that Bitcoin presents a better investment opportunity than gold. He also pointed out how Bitcoin outperformed the precious metal at the heat of the 2020 COVID-19 pandemic.

The strategist, who is a well-known supporter of Bitcoin, has made several bullish calls on Bitcoin in the past. His prediction from November 2020 that BTC would surpass $20,000 in value did indeed materialize.

This time around, he has voiced his optimism that Bitcoin, which has been trading around the $30,000 region since May, could surge upwards in the near future. He is one of the few mainstream analysts to maintain a bullish stance on Bitcoin despite the ongoing negative market action. Guggenheim CIO Scott Minerd, for instance, recently said that Bitcoin could bottom out at $10,000.