Bitcoin on track towards $100,000, gold price to rise along with crypto – Bloomberg Intelligence

(Kitco News) Bitcoin has developed a new floor at around $30,000, and the cryptocurrency looks on track to resume its rally towards $100,000, according to Bloomberg Intelligence, which also sees gold rising alongside crypto.

"Bitcoin appears to have built a base around $30,000 that's akin to $4,000 at the start of 2019, and we see performance parallels that could get the benchmark crypto back on track toward $100,000," said Bloomberg Intelligence senior commodity strategist Mike McGlone.

Bitcoin is looking set up for higher prices going forward, added McGlone, citing its technical setup.