Bloomberg analyst, Mike McGlone, speaking to Cointelegraph described Bitcoin (BTC) halving as a "not-result".

Cointelegraph interviewed Bloomberg's senior article strategist Mike McGlone to learn more nigh his Bitcoin bullishness. He emphasized that the work he does for Bloomberg Intelligence is objective and devoid of salesmanship:

"I'm Bloomberg Intelligence. They're all completely objective. And this does not reflect the views of Bloomberg at all. I'm completely objective in my outlook in the market. I don't make investment advice or recommend recommendations."

Bitcoin maximalist

McGlone has decades of experience equally a commodities trader and has been really impressed with Bitcoin's robustness:

"The stock market had its biggest correction since the Great Depression, downwardly 15 percent. I view that as quite pregnant that Bitcoin is weathering this tempest withal. And the key thing I find almost it, it's never stopped trading, never stopped, never halted, didn't accept a third party guiding information technology. I view that equally someone who's been trading commodities my whole life is very impressive."

He also added that his bullishness is exclusive to Bitcoin:

"I'g not bullish on anything else other than Bitcoin. I think the residual of the marketplace is just a bunch of v thousand wannabes."

Halving is for amateurs

McGlone does non believe that the upcoming halving will have any bear upon on the Bitcoin price, since it is something that the marketplace has already factored in:

"it'southward a non-effect. Complete non-event, it'southward for amateurs. Since when do known knowns thing in markets?"

McGlone alludes to one of the primary tenets of financial economic science theory — the efficient markets hypothesis, which suggests that all the known information is already priced in.

Central resistance levels

As a Bloomberg analyst, McGlone is not allowed to discuss cost targets. Nonetheless, he pointed out some key support and resistance levels:

"So I think the key resistance people are gonna be looking at is $ten,000 and that's very doable. I would exist very disappointed if it trades much below $five,000 back up."

McGlone believes that all the fundamentals are "very positive".

McGlone'southward views may be perceived as contrarian by many in the crypto customs. Nosotros are less than xx days from the halving, and take non all the same witnessed whatsoever major toll movements.