Bitcoin will emerge stronger after stocks dip ‘10%–20%’ — Bloomberg analyst
Bitcoin will emerge stronger after stocks dip ‘10%–20%’ — Bloomberg analyst Federal Reserve policy should mean markets see a long-awaited comedown of up to one-fifth, says Bloomberg Intelligence’s Mike McGlone. Bitcoin ( BTC ) will soon no longer be a risk asset, and investors should brace for a fresh price correction, says one of Bloomberg’s best-known analysts. In an appearance on the Wolf Of All Streets podcast on Jan. 18, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, sounded the alarm on global markets’ “up only” narrative. McGlone: Bitcoin “least risky” crypto bet As Bitcoin struggles in 2022, those hoping for a dramatic return to form will be disappointed by McGlone’s mid-term forecast. The United States Federal Reserve, he said, will all but guarantee an end to the limitless gains for stocks — and crypto, naturally correlated, will suffer too. “The number one theme I’ve been using for months now is ‘Do not fight the Fed,’” he ...