Forex and Crypto News

Bitcoin price may soon reach $50000

14:00 08 January /2021

Last summer, Bloomberg analyst Mike McGlone predicted that Bitcoin price will reach 20,000 in December 2020. His prediction turned out to be correct. In December, the price of Bitcoin reached $29000.

Mike McGlone predicts that this year will be even better for Bitcoin. In his tweet, the analyst wrote that the price of Bitcoin could easily reach $50000.


Bitcoin has already shown strong growth in January. Today the pair BTC/USD has reached the level of $41800 and continues to grow.


On the morning of January 8, the aggression from the traders subsided. Many players are waiting for the end of the political crisis in the United States. As a result, BTC fell back to $36600. But at the moment, the price of Bitcoin is showing an increase.

McGlone believes that this year's rally will be more ambitious, which will allow BTC to skyrocket to at least $50000. In this case, the capitalization of the digital currency will be above $1 trillion, which will be another record in the history of the crypto sphere.

The analyst draws attention to the fact that the chances of growth will be significantly greater than the weakening of the Bitcoin. It excludes the possibility of a drop in the Bitcoin rate to the $20000 mark.

McGlone believes Bitcoin will outperform gold. The return on investment in BTC will be significantly higher than that of the precious metal.

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