523: BITCOIN CAN HIT $400,000 IN 2021 AS ‘RISK-OFF RESERVE ASSET’ SAYS BLOOMBERG INTELLIGENCE!!

<p>Bitcoin still gets criticized for being too volatile, but one Bloomberg analyst believes that BTC is conversely becoming a "risk-off" choice for investors.</p> <p>In a tweet on March 25, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said that this year marked a watershed moment for the largest cryptocurrency and that a $400,000 Bitcoin price would 'rhyme' with history.</p> <p>McGlone uploaded a chart of the BTC/USD average price and the Bitcoin Liquid Index, a price ticker specially created for institutional use.</p> <p>"Well on its way to becoming a global digital reserve asset, a maturation leap in 2021 may be transitioning Bitcoin toward a risk-off asset, in our view," he wrote.</p> <p>A potential price peak this year, with previous behavior as context, could be as much as $400,000 per bitcoin, the chart shows. This dwarfs other estimates, such as that of stock-to-flow, which calls for an average of $288,000 between now and 2024.</p> <p><span style= "font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"> For complete show notes and for the full premium experience with video, visit our YouTube channel at <a href= "http://cryptonewsalerts.net">http://CryptoNewsAlerts.net</a></span></p>