After a strong month of July and having rallied as much as 39.9% from its June 18^th lows, Mike McGlone believes that Bitcoin is poised for another rally.

Moreso, McGlone, a senior commodity strategist at Bloomberg Intelligence, thinks we could soon enter “one of the greatest bull markets in history” for Bitcoin.

“July marked the steepest discount in #Bitcoin history to its 100-and 200-week moving averages, with implications for it to recover. I see risk vs. reward tilted favorably for one of the greatest bull markets in history,” McGlone posted on July 31^st.

 

A day earlier, McGlone tweeted, “Federal Reserve Chairman Jerome Powell’s ‘meeting by meeting’ comment may mark the pivot for Bitcoin to resume its tendency to outperform most assets,”

 

Should McGlone be right, and many analysts agree, the Bitcoin “winter” may be over and BTC “spring” has begun.

Could Bitcoin “summer” be just around the corner?

Read more of Mike McGlone’s comments on Bitcoin’s “greatest bull market,” HERE