Senior Bloomberg Analyst Mike McGlone has said that Bitcoin is currently trading at a massive discount and could become global digital collateral. According to Forbes, McGlone relied mostly on technical analysis of the 100-week moving average. In July, Bitcoin reached its lowest ever price vs the 100-week moving average. This is a sign that it is trading at an “extreme discount within an enduring bull market,” said McGlone. The senior commodities analyst also touched on the Federal Reserve’s interest rate hike in the face of current inflation and what that could mean for Bitcoin. He pointed out that cryptocurrencies benefited from […]