{"id":131571,"date":"2021-07-08T13:45:33","date_gmt":"2021-07-08T13:45:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131571"},"modified":"2021-07-08T13:45:33","modified_gmt":"2021-07-08T13:45:33","slug":"bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/","title":{"rendered":"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021"},"content":{"rendered":"<p>The recently-released June 2021 edition of Bloomberg\u00a0research report\u00a0\u201cBloomberg Commodity Outlook\u201d, which was written by\u00a0Mike McGlone, a Senior Commodity Strategist at\u00a0Bloomberg Intelligence\u00a0(Bloomberg\u2019s\u00a0research arm on the\u00a0Bloomberg\u00a0Terminal\u201d), is quite bullish on the outlook for both gold and Bitcoin in H2 2021.<\/p>\n<p>Here are some highlights from this report:<\/p>\n<ul>\n<li>The \u201cmainstream migration trend\u201d seems strong as evidenced by the popularity of several Bitcoin ETFs in Canada and the growing list of Bitcoin ETF proposals that are waiting for the SEC\u2019s approval.<\/li>\n<li>The steady decline in the U.S. 30 Year Treasury Bond (from 2.415% on May 12 to 1.89% on July 8) means that there is less competition for store of value assets such as gold and Bitcoin.<\/li>\n<li>In H1 2021, the S&#038;P 500 and Bitcoin went up by the same amount. As for H2 2021, \u201csome ebbing of the equity tide\u201d could pose a short-term risk for Bitcoin. As for now, Bitcoin being \u201ccold\u201d (having fallen from its year-high price of nearly $65,000 on April 12 to around $32,555, where it is now) and stocks appearing \u201ctoo hot\u201d (on July 7, the S&#038;P 500 and Nasdaq Composite set all-time highs, reaching4358.13 and 14665.06 respectively) suggests more upside potential for Bitcoin than stocks in H2 2021.<\/li>\n<li>The crypto crackdown in China, the U.S. Securities and Exchange Commission (SEC) still failing to approve a Bitcoin ETF, and ESG concerns about the power consumption of Bitcoin mining are three \u201cshorter-term price headwinds\u201d that could morph into\u201d longer-term tailwinds.\u201d<\/li>\n<li>Bitcoin appears to be on the path to \u201cstabilize around 100x an ounce of gold\u201d (an ounce of physical gold currently costs around $1,800).<\/li>\n<\/ul>\n<p>On July 2, McGlone said that regardless of whether you think we are in a bear market or a bull market, \u201cselling Bitcoin on initial dips below its 50-week moving average in the past has proven a good way to lose money.\u201d<\/p>\n<h2><strong>DISCLAIMER<\/strong><\/h2>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<h2><strong>IMAGE CREDIT<\/strong><\/h2>\n<p><em>Photo\u00a0by\u00a0\u201cWorldSpectrum\u201d via\u00a0Pixabay<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/07\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recently-released June 2021 edition of Bloomberg\u00a0research<\/p>\n","protected":false},"author":3,"featured_media":131570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The recently-released June 2021 edition of Bloomberg\u00a0research\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-08T13:45:33+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Bloomberg-Senior-Commodity-Strategist-Bitcoin-and-Gold-\u2018Set-To-Shine-in-H2-2021.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/\",\"name\":\"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021 - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-07-08T13:45:33+00:00\",\"dateModified\":\"2021-07-08T13:45:33+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin\",\"item\":\"https:\/\/precoinnews.com\/category\/bitcoin\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021 - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/","og_locale":"en_US","og_type":"article","og_title":"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021 - Pre Coin News","og_description":"The recently-released June 2021 edition of Bloomberg\u00a0research","og_url":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/","og_site_name":"Pre Coin News","article_published_time":"2021-07-08T13:45:33+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Bloomberg-Senior-Commodity-Strategist-Bitcoin-and-Gold-\u2018Set-To-Shine-in-H2-2021.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/","url":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/","name":"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021 - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-07-08T13:45:33+00:00","dateModified":"2021-07-08T13:45:33+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/bitcoin\/bloomberg-senior-commodity-strategist-bitcoin-and-gold-set-to-shine-in-h2-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin","item":"https:\/\/precoinnews.com\/category\/bitcoin\/"},{"@type":"ListItem","position":3,"name":"Bloomberg Senior Commodity Strategist: Bitcoin and Gold \u2018Set To Shine\u2019 in H2 2021"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/131571"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=131571"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/131571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/131570"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=131571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=131571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=131571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}