Bitcoin (BTC) Struggles to Reach $150,000 Target: Insights from Bloomberg’s Mike McGlone

• Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has predicted that Bitcoin’s potential rise to $150,000 is unlikely due to macroeconomic trends and Bitcoin’s performance in 2024.
• McGlone compared Bitcoin’s performance with the S&P 500 and Gold, highlighting its “divergent weakness”.
• Despite his pessimistic short-term prediction, McGlone remains optimistic about Bitcoin’s long-term value.

Mike McGlone, a Bloomberg strategist, predicts Bitcoin’s surge to $150,000 is unlikely due to macroeconomic trends and Bitcoin’s performance. Despite this, he remains optimistic about Bitcoin’s long-term value.