• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
bitcoin price discovery

Bloomberg Analyst: Bitcoin Is “Tiny” Now, But “Price Discovery Stage” Is Here

Tony "The Bull" Severino, CMT
by Tony "The Bull" Severino, CMT
4 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is now worth nearly a full $15,000 more than it was during March of this year. But the events of Black Thursday and the realization that the world was forever changed, it has created the perfect storm for the cryptocurrency.

Now, with new money flooding in from an entirely different wealth class, Bloomberg senior commodities analyst Mike McGlone believes that the cryptocurrency is back in “price discovery stage,” and while the asset’ market cap is “tiny” now, it won’t be that way when the next cycle has completed. Here’s what this could mean for the next peak, and how it could break all expectations, even with expert predictions reaching as high as hundreds of thousands of dollars.

Bloomberg Senior Commodity Strategist: Bitcoin Has Returned To Price Discovery

As the years pass and the pre-programmed Bitcoin bubble economics suck in new investors with each new wave, the size of the cryptocurrency’s network and its market cap will continue to grow. The asset is currently still young, and like the volatile twelve-year-old it is turning towards its teen years, cryptocurrency as a whole has been maturing.

Bitcoin this week reached a milestone over $300 billion market cap, putting it on par with corporate giants like Mastercard, Disney, Nvidia, and more in terms of total capitalization. The recent store of value and safe haven asset narrative has caught on in 2020, as economic challenges like hyperinflation hasten.

RELATED READING | HOW SATS STACK UP: COMPARING THE MILESTONE $335B BITCOIN MARKET CAP

However, this is still “tiny” compared to gold’s $10 trillion dollar market cap – the original store of value and hard money. And although Bloomberg senior commodities analyst Mike McGlone says the cryptocurrency is “far from it” still in 2020, the asset possibly entered the price discovery phase again, and could soon start making up the difference between the two.

#Bitcoin – in Price-Discovery Stage – Isn't a Store of Value, Yet;
Bitcoin is on track to be a digital version of #gold, but remains far from it in 2020. At just over a $300 billion market cap on Nov. 19, the benchmark crypto is tiny compared with the about $10 trillion gold mkt, pic.twitter.com/WPsItBYSES

— Mike McGlone (@mikemcglone11) November 20, 2020

How The Cryptocurrency Was Programmed To Capture Capital And Further Adoption

Bitcoin is uniquely programmed to lower its supply every four years, prompting a bubble-like effect. As the asset’s price rapidly grows luring in new money, but because it is still predominantly a speculative asset when the market begins to consider its price far overvalued, it crashes and cools off, causing a selloff and distribution of BTC into other holders.

The entire cycle was designed to ensure the underlying network grows exponentially and the asset itself remains deflationary.

RELATED READING | FOMO BEGINS: BITCOIN ADOPTION EXPLODES TO HIGHEST LEVEL SINCE PREVIOUS PARABOLIC PEAK

The last cycle that put Bitcoin on the map as a mainstream financial asset mostly sucked in retail investors enamored by the emerging tech. Four years later, adoption, acceptance, and familiarity have increased, and today, brands like PayPal and others are supporting the cryptocurrency.

bitcoin btcusd

According to the last cycle, price discovery could take a while longer | Source: BTCUSD on TradingView.com

Billionaires are buying it. Celebrities are buying it. Institutions are buying it. Bitcoin is no longer a retail-driven asset, and with the type of money that this new investor class has behind them, projections from experts on the next peak for Bitcoin might be vastly underestimating where it will eventually be.

Featured image from Deposit Photos, Charts from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Tony "The Bull" Severino, CMT

Tony "The Bull" Severino, CMT

Follow

Tony "The Bull" Severino, CMT, a technical analyst and Head of Research at Bitcoinist. As the founder of CoinChartist.io, an educational platform for crypto traders focused on technical analysis, Tony provides his expertise to help others understand and apply this methodology. He has partnered with industry leaders like Elliott Wave International and TradingView. Through his partnerships, educational resources, and leadership roles, Tony has established himself as an authority on leveraging technical analysis to trade cryptocurrencies.

Full Profile

Related Posts

Bitcoin price

Is Bitcoin Price Going To $30,000? Bearish Indicator Suggests Possible 70% Decline

4 hours ago
Bitcoin

Analyst Says Wait For The Bitcoin Price Crack To Trigger A 70% Crash – Here’s The Target

15 hours ago
比特幣年底目標維持20萬美元 市場修正後資金追逐下一波百倍幣

比特幣年底目標維持20萬美元 市場修正後資金追逐下一波百倍幣

23 hours ago
Bitcoin

China’s Bitcoin Mining Isn’t Dead — It’s The World’s No. 3 Contributor

1 day ago
China officieel top 3 crypto mining - BTC koers naar $200k in 2025

China officieel top 3 crypto mining – BTC koers naar $200k in 2025?

1 day ago
Bitcoin

Cum va arăta prețul Bitcoin la final de octombrie?

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Snorter Bot...

    2 days ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    3 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    4 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    4 days ago
  • 挖 1 枚比特幣耗電可供 61...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.