The Primary Hurdle Toward $50,000 Bitcoin Is the $20,000 All-Time High

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In the past five weeks alone, Bitcoin has gained 60%, boosting to $16,600 as of this article’s writing. Analysts are confident that further gains are on the horizon. Mike McGlone, analyst at Bloomberg, says that Bitcoin passing its previous all-time high at $20,000 will cause a large move higher. Bitcoin Could Hit $50,000 If it Secures All-Time High Bitcoin has rocketed higher over recent weeks. In the past five weeks alone, the leading cryptocurrency has gained 60%, boosting to $16,600 as of this article’s writing. Earlier today, the coin was trading higher than this closer to $17,000. Analysts are confident that further gains are on the horizon. According to Mike McGlone, a senior commodity analyst or strategist at Bloomberg Intelligence, Bitcoin passing its previous all-time high at $20,000 will cause a large move higher. Referencing the chart below, he went as far as to say that the cryptocurrency passing $20,000…

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