{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=PL&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=%22Bitcoin+is+now+in+a+discounted+bull+run%22%3A+Bloomberg+strategist&text=Despite+the+major+drop+Bitcoin+has+experienced%2C+it%27s+still+in+a+bull+run%2C+according+to+Mike+McGlone%2C+Bloomberg%27s+senior+commodity+strategist.&text=Bitcoin+saw+one+of+its+worst+trading+months+in+May%2C+with+the+token+seeing+a+more+than+36%25+drop+in+a+matter+of+weeks+after+enjoying+a+strong+steady+climb+for+over+a+year.+Despite+the+drawback%2C+Bloomberg+senior+commodity+strategist+Mike+McGlone+believes+Bitcoin+is+still+in+a+bull+market+and+a+resurge+is+more+likely+than+a+dip+further.%0A%3Ch2%3EBitcoin+bull+market+-+at+a+discount%3C%2Fh2%3E%0AIn+this+%3Ca+href%3D%22https%3A%2F%2Fassets.bbhub.io%2Fpromo%2Fsites%2F12%2F1169707_Crypto-June2021Outlook.pdf%3Flink%3Dbody%22%3Emonth%27s+edition+of+Bloomberg%27s+Galaxy+Crypto+Index%3C%2Fa%3E%2C+McGlone+wrote%3A%0A%0A%22%3Cem%3EBitcoin+is+more+likely+to+resume+appreciating+toward+%24100%2C000+resistance+rather+than+sustaining+below%3C%2Fem%3E+%2420%2C000.%22+The+report+continued+to+suggest+that+June+will+likely+experience+a+discounted+bull+run%2C+saying+that+the%3Cem%3E+%22Bloomberg+Galaxy+Crypto+Index+%28BGCI%29+signals+a+bull+market+at+a+discount+to+start+June%2C+as+we+see+it.+Bitcoin+has+corrected+about+50%25+from+its+2021+high+and+appears+to+be+building+a+base+around+%2430%2C000.%22%3C%2Fem%3E%0A%3Ch2%3EBitcoin+support+levels+strong+-+bullish+signs%3C%2Fh2%3E%0AWithin+the+report%2C+McGlone+notes+that+Bitcoin+is+stronger+and+%22l%3Cem%3Eess+extended%3C%2Fem%3E%22+currently+than+where+it+was+at+its+all-time+high+in+April.+As+a+result+of+this%2C+he+thinks+the+cryptocurrency+won%27t+fall+further+to+where+it+might+have+been+trading+a+year+ago.+The+strategist+also+offered+that+the+supporting+levels+for+Bitcoin+are+a+lot+higher+than+they+have+been+previously+and+it+has+dipped%2C+%22%3Cem%3Ebut+it%27s+running+into+layers+of+support+below+%2430%2C000+on+the+back+of+about+a+50%25+discount+from+its+peak.%22%C2%A0%3C%2Fem%3EHe+also+wrote%3A+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0A%3Cem%3E%22Toward+the+end+of+2020%2C+Bitcoin%27s+history+suggested+the+crypto+would+move+sharply+higher+in+2021%2C+and+we+see+improving+supports+for+this.+In+2020%2C+260-day+volatility+dropped+to+its+lowest+ever+vs.+most+major+asset+classes%2C+notably+the+S%26amp%3BP+500.+Add+last+year%27s+supply+cut%2C+the+migration+to+institutional+portfolios%2C+Ethereum+futures+and+the+launch+of+ETFs+in+Canada+and+Europe%2C+and+we+see+greater+potential+for+Bitcoin+to+head+toward+%24100%2C000+than+sustain+below+%2420%2C000.%E2%80%9D%3C%2Fem%3E","timeout":15}