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#Bitcoin Price Pumps and New All-Time High Days Are Over, Says Bloomberg Intelligence Senior
Bitcoin's price pumps and new all-time high days are over, according to #Bloomberg Intelligence Senior Mike McGlone. He says that the cryptocurrency's volatility has declined, making it less likely to experience sharp swings in price.
McGlone points to the fact that Bitcoin's volatility has declined from over 100% in 2017 to around 40% today. He says that this decline is due to a number of factors, including the increasing institutional adoption of Bitcoin and the growing maturity of the cryptocurrency market.
"Bitcoin is maturing and becoming less volatile," #McGlone said. "This means that the days of big price pumps and new all-time highs are over. However, Bitcoin is still a valuable asset and has the potential to continue to grow in value over the long term."
McGlone's comments come as Bitcoin's price has been consolidating in recent months. The cryptocurrency is currently trading around $26,000, down from its all-time high of $68,789 in November 2021.
Despite the recent decline, McGlone remains bullish on Bitcoin's long-term prospects. He says that the cryptocurrency is still in its early stages of development and has the potential to become a major global currency.
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