{"id":255532,"date":"2021-05-21T15:14:59","date_gmt":"2021-05-21T12:14:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-in-discounted-bull-market-unlike-stocks-bloomberg-intelligence\/"},"modified":"2021-05-21T15:14:59","modified_gmt":"2021-05-21T12:14:59","slug":"bitcoin-in-discounted-bull-market-unlike-stocks-bloomberg-intelligence","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-in-discounted-bull-market-unlike-stocks-bloomberg-intelligence\/","title":{"rendered":"#Bitcoin in &#039;discounted bull market&#039; unlike stocks \u2014 Bloomberg Intelligence"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40f9debc908\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40f9debc908\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-in-discounted-bull-market-unlike-stocks-bloomberg-intelligence\/#Bitcoin_now_has_%E2%80%9Ckey_advantage%E2%80%9D_over_stocks\" >Bitcoin now has &#8220;key advantage&#8221; over stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-in-discounted-bull-market-unlike-stocks-bloomberg-intelligence\/#The_bottom_is_in_not_the_top\" >The bottom is in, not the top<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Bitcoin in &#039;discounted bull market&#039; unlike stocks \u2014 Bloomberg Intelligence<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMzVmMGNlZTAtNjIxMS00MzIwLTliMTEtNjgzNDFlNDQ0NzZlLmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                This week's price dip showed that cryptocurrency has \"entered the mainstream,\" says analyst Mike McGlone, and the future is likely \"tilted in its favor.\"\n                &lt;p&gt;Bitcoin (BTC) and altcoins have \"entered the mainstream\" after this week's price dip and will become stronger as a result, says Bloomberg Intelligence.\u00a0\n<\/code><\/pre>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1395687795272962049\/\">tweet<\/a> on May 21, Mike McGlone, the research unit&#8217;s senior commodity strategist, described Bitcoin as being in a &#8220;discounted bull market.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_now_has_%E2%80%9Ckey_advantage%E2%80%9D_over_stocks\"><\/span>Bitcoin now has &#8220;key advantage&#8221; over stocks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Cryptocurrencies fell en masse along with Bitcoin during the May 19 crash which saw BTC\/USD dip to $30,000 before recovering.<\/p>\n<p>As Cointelegraph reported, altcoins then put in an awe-inspiring comeback, with some gaining in excess of 70% in under a day.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/bff68672-fd50-47f3-9f75-0bd9bffa4a93.png\" \/><figcaption style=\"text-align: center\"><em>BTC\/USD 1-week candle chart vs. NASDAQ. Source: Mike McGlone\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>For McGlone, the bull market is still on, with the dip ensuring that tokens are now a steal at current prices.<\/p>\n<p>&#8220;Bitcoin&#8217;s Advantage vs. Equities: A Discounted Bull Market,&#8221; he summarized. <\/p>\n<blockquote><p>&#8220;The May 19 decline of virtually all assets on the back of Bitcoin\u00a0showed the crypto has entered the mainstream, with potential outcomes tilted in its favor, in our view.&#8221;<\/p><\/blockquote>\n<p>He highlighted advantageous volatility versus traditional stocks, along with a chart that suggested Bitcoin &#8220;may have passed the correction test.&#8221;\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/fce3b307-44f6-460a-84a1-ba08ee9517c3.png\" \/><figcaption style=\"text-align: center\"><em>BTC\/USD vs. NASDAQ correlation with BTC\/USD vs. NASDAQ 180-day volatility chart. Source: Mike McGlone\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"The_bottom_is_in_not_the_top\"><\/span>The bottom is in, not the top<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>McGlone is not alone in considering the broader market trend to be intact after the week&#8217;s volatility. Earlier, Cointelegraph noted statistician Willy Woo&#8217;s estimate that Bitcoin is only half way through its current bull cycle.\u00a0<\/p>\n<p>Woo was in turn joined by PlanB, creator of the stock-to-flow family of Bitcoin price models, who in an <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earance on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=bG9f9n48ybU\">Wolf of all Streets Podcast<\/a> likewise guessed at the bull market being 50% complete.<\/p>\n<p>&#8220;Both models show that we&#8217;re certainly not at the end of the cycle,&#8221; he told host Scott Melker.<\/p>\n<blockquote><p>&#8220;We still have some room to go until $100,000 on average or $288,000 on average if you follow the stock-to-flow X model.&#8221;<\/p><\/blockquote>\n<p>The comments were made last week, before the price dip, with PlanB since sticking to his perspective on the market.<\/p>\n<p>&#8220;Not Tweeting about BTC for a while,&#8221; veteran trader Peter Brandt <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1395353962149126147\">added<\/a>. <\/p>\n<blockquote><p>&#8220;But hint: Market bottomed yesterday.&#8221;<\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-in-discounted-bull-market-unlike-stocks-bloomberg-intelligence\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Bitcoin in &#039;discounted bull market&#039; unlike stocks \u2014 Bloomberg Intelligence&#8221; This week&#8217;s price dip showed that cryptocurrency has &#8220;entered the mainstream,&#8221; says analyst Mike McGlone, and the future is likely &#8220;tilted in its favor.&#8221; &lt;p&gt;Bitcoin (BTC) and altcoins have &#8220;entered the mainstream&#8221; after this week&#8217;s price dip and will become stronger as a result, says&#8230;<\/p>\n","protected":false},"author":1,"featured_media":255533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMzVmMGNlZTAtNjIxMS00MzIwLTliMTEtNjgzNDFlNDQ0NzZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-255532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/255532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=255532"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/255532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/255533"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=255532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=255532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=255532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}