Mike McGlone commented on the Bitcoin and Ether rally

by in Cryptocurrency News

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Bloomberg strategist Mike McGlone is known for predicting Bitcoin will hit $ 20,000 again in December 2020.

Moreover, the same analyst predicted further growth in BTC and was right. The day before on Twitter, McGlone recalled that in annual terms, the strengthening of the bitcoin rate was 54%, while the increase in the value of ETH exceeded 320%.

In the second half of 2021, we will see BTC achieve much more impressive results and turn out to be more profitable than Ether.

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The Bloomberg strategist does not doubt that the largest digital currency will be able to soar in price up to $100,000. Together with it, ETH will update the maximums. McGlone reiterated that institutional adoption of the cryptocurrency is going to be a key driver of Bitcoin's growth.

Analysts at Autonomous Capital Management adhere to a similar point of view. Their report says that financial institutions are only eyeing bitcoin and crypto-focused products so far. They fear the volatility and unregulated digital marketplace. That is why the entry of institutions into BTC is still only partial.