Crypto Currency Tracker logo Crypto Currency Tracker logo
NewsBTC 2021-08-05 23:00:21

Bitcoin Set To Outperform In Second Half Of 2021, Bloomberg Analyst

As Bitcoin continues its tumultuous run through the market, analysts continue to see big things in store for the cryptocurrency. Bloomberg analyst Mike McGlone recently said in the August Edition of the Bloomberg Galaxy Crypto Index (BGCI) that the coin was set to outperform in the second half of the year. Already one month into the second half of the year, the market has seen the price of bitcoin breaking $40,000 for the first time since the market crash. The report said bullish fundamental underpinnings would improve this second half. Likely relating to the continuous growth of the digital asset over the past two weeks. Continuing upward trends have put the digital asset at bullish trends that see the asset price increasing higher. Related Reading | Wells Fargo Now Offers Cryptocurrency Investment To Clients The report sees the current trends enduring, which would most likely push the assets to continue to outperform as the second half of the year plays out. Bitcoin Reasserts Leadership Of Crypto Market Bitcoin continues to be the number one cryptocurrency in the market. A large share of crypto market dominance continues to be held by the digital asset. With over 45% of market dominance belonging to bitcoin. This puts the digital asset at the top of the food chain when it comes to the cryptocurrency market. The report points out that the pioneer cryptocurrency recently reasserted its dominance in the market with the rec...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.