• Senior commodity analyst for Bloomberg expects bitcoin to bottom around $20,000.
  • The Bloomberg Crypto Outlook Report explains changes in the Fed’s tight monetary policy can result in rising prices for bitcoin.
  • The report cites bitcoin’s dwindling supply as the reason for its likely increase in value over time.

Mike McGlone, a senior commodity strategist at Bloomberg, shared Bloomberg’s Crypto Outlook report on LinkedIn discussing bitcoin’s next bull run as it relates to the broader economy.

“Bitcoin is at a discount within an elongated bull market,” reads the report.

By Antoni